Ingredion Unveils All-Cash Bid to Acquire Tate & Lyle
MT Newswires Live
Jun 08
Ingredion (INGR) has launched an all-cash tender offer to acquire Tate & Lyle, valuing the specialty ingredients company at about 3.7 billion British pounds ($5 billion), the company said Monday.
Tate & Lyle shareholders will receive 5.95 pounds per share, plus potential dividends. Ingredion plans to fund the deal with available cash, new financing, and borrowings from its credit facility, it said.
The acquisition is expected to deliver about $130 million in cost synergies and be accretive to Ingredion's adjusted earnings in the first year post-completion.
Closing is anticipated in H2 2027.
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