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Tate & Lyle agrees £2.7 billion takeover by Ingredion
The companies expect about $130 million in annual cost savings by 2030 as Ingredion expands its global ingredient portfolio.
- On Monday, London-listed Tate & Lyle agreed to a takeover by Illinois-based Ingredion, valuing the company at around £2.7 billion with an offer of up to 615p per share in cash and dividends.
- Tate's performance has flagged in recent years as customer demand dropped and costs increased, with the firm revealing a 10% drop in first-half profits in November.
- Jim Zallie, chairman and chief executive of Ingredion, stated that "Combining Ingredion and Tate & Lyle" creates a global leader, with the companies targeting annual cost savings of £97.5 million by 2030.
- This deal marks the latest foreign acquisition of a British firm, following recent proposals for Intertek and Evoke, as such takeovers continue to reshape the London market.
- Ingredion employs more than 12,000 people worldwide, while Tate traces its roots back more than 165 years, positioning the combined entity as a significant player in global ingredient solutions.
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Tate & Lyle board approves takeover by Ingredion
Tate & Lyle’s board unanimously recommends to its shareholders Ingredion’s all-cash offer to acquire the company for approx. US$5 billion. The acquisition will create one of the world’s largest ingredients company, combining Ingredion’s solutions in sugar reduction and texture with Tate & Lyle’s expertise in mouthfeel, sweetening, and fortification. It will also offer Ingredion critical scale in North America, Europe and emerging markets. “The c…
Company has informed that it hopes to strengthen its portfolio and create opportunities for growth by combining complementary products offers and geographic networks
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Coverage Details
Total News Sources27
Leaning Left4Leaning Right3Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 31%
C 46%
R 23%
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