Overview
- Tate & Lyle’s board has unanimously recommended Ingredion’s offer of up to 615p per share, and the companies plan to implement the deal by a UK court‑sanctioned scheme of arrangement with completion targeted in the second half of 2027.
- The offer comprises 595p in cash plus dividend payments, values Tate & Lyle at about £2.7bn (around £3.7bn including debt), and follows several earlier approaches by Ingredion.
- Ingredion projects combined annual revenue of about $9.9bn and expects to deliver roughly $130m a year in cost savings by the end of 2030 through integration and efficiency measures.
- Ingredion warned it will carry out a post‑deal operational review that could put about 3% of the combined workforce — roughly 480 roles — at risk, and said the enlarged group would be headquartered in Westchester, Illinois with Jim Zallie as leader.
- The sale follows a period of weakening results at Tate & Lyle and continues a wave of foreign takeovers of London‑listed firms, a trend that may further reduce the pool of major companies listed in London.