Industrials Company Oshkosh Announces Acquisition of John Bean Techs

Oshkosh OSK has announced an acquisition of John Bean Techs JBT that is expected to be completed in Q3 of 2023.

Under the terms of the agreement, Oshkosh has agreed to give John Bean Techs $800.00 million in cash in exchange for JBT stock.

About The Companies Involved

Oshkosh is the top producer of access equipment, specialty vehicles, and military trucks. It serves diverse end markets, where it is typically the market share leader in North America, or, in the case of JLG aerial work platforms, a global leader.

John Bean Technologies is a mid-cap diversified industrial conglomerate that spun out of FMC Technologies in August 2008. Over half of JBT's sales are made in the United States.

How An Acquisition Works

An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.

An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.

Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.

This article was generated by Benzinga's automated content engine and reviewed by an editor.