Tate & Lyle shares jump 45% after £2.7bn takeover bid from Ingredion
Tate & Lyle’s share price surged by 45% after a £2.7bn takeover bid from US firm Ingredion. The offer values the London-listed company at 615p per share, sparking discussions between the two businesses. Founded in 1921 through the merger of Henry Tate and Abram Lyle’s firms, Tate & Lyle has been publicly traded since 1938. The company shifted focus in 2010 by selling its sugar refining arm and golden syrup brand for £211m. More recently, in 2024, it acquired CP Kelco for $1.8bn to expand its expertise in texture and customer solutions.
Ingredion, a US supplier of starches, sweeteners, and pea protein, now has until 5pm on 11 June to finalise its bid or withdraw. This move follows a wave of takeover attempts targeting London-listed companies, including recent offers for Intertek and Spire Healthcare. No formal agreement has been reached yet. Tate & Lyle is currently in talks with Ingredion, though there remains no guarantee of a deal.
The bid has already pushed Tate & Lyle’s shares up to 543p. If successful, the acquisition would mark another major shift for the historic food ingredients group. Ingredion’s decision will become clear by the regulatory deadline.
