US-based John Bean Technologies Corporation (JBT) is making a third offer for all the shares in Icelandic processing equipment manufacturer Marel.

It said it intends to merge the two companies by making a voluntary takeover offer in the first quarter.

This third proposal follows two previously announced proposals from JBT in 2023, the first on Nov. 24, which was subsequently rejected, and a revised proposal on Dec. 13.

JBT's new offer of €3.60 ($3.90) per share is more than 14 percent higher than its original offer of €3.15