Partners for Growth, page-3

To be clear, this announcement says the finance facility is for JBFG - so you would be talking about JBFG shares there, not JBL shares. So, not shares that anybody accepting the takeover would own directly.

But their previous announcement said, less specifically, that the finance facility was for "members of the JBL consolidated group", which gave me the impression that it was for JBL as a whole.

This also means that the loan is secured over JBFG and selected subsidiaries, not the entire parent entity (JBL).