Tate & Lyle agrees £2.7bn takeover by US rival in new blow to London market
Overview
Venerable but struggling UK firm backs deal with Chicago-based Ingredion putting nearly 500 jobs worldwide at risk
Tate & Lyle has agreed to a £2.7bn takeover by its US rival Ingredion, in a deal that could put hundreds of jobs at risk and represents yet another loss for London’s struggling stock market.
Details
The FTSE 250 business, which makes artificial sweeteners such as Splenda, has agreed to a deal that values it at 615p a share, about 60% above its price before news of a possible takeover emerged.
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Originally published at www.theguardian.com.