US Food Giant Ingredion Agrees £2.7 Billion Cash Takeover of UK-Listed Tate & Lyle at 59% Premium

Ingredion, a US food-and-beverage ingredients maker, has agreed a £2.7 billion ($3.6 billion) all-cash acquisition of Tate & Lyle, the FTSE-listed British ingredients group, in one of the largest UK-listed company takeouts of 2026. The offer prices each Tate & Lyle share at 595 pence in cash, representing a 59% premium to the last closing price before takeover talks were publicly disclosed last month. Shareholders are also entitled to receive up to an additional 20 pence in dividends, bringing the total headline consideration to 615 pence per share — a 64% premium on a headline basis. Tate & Lyle's board has unanimously confirmed it intends to recommend the offer to shareholders, a strong signal that deal completion risk is low. The combined entity would form a global food and beverage ingredients major with expanded capabilities across texture, mouthfeel, sugar reduction, and clean-label product solutions — sectors where both companies already compete and where consumer demand for reformulated, lower-sugar products is structurally growing. Under UK Takeover Code rules, Ingredion was required to either make a firm offer or withdraw by 11 June 2026, and today's announcement constitutes that firm offer. The deal will now move toward a shareholder vote and the regulatory clearance process. No advisers are named in the available sources.

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