Ingredion to Buy Tate & Lyle for £2.7B in All-Cash Deal at 59% Premium, Marking Another London Delisting
Ingredion announced on June 8 a recommended all-cash acquisition of Tate & Lyle at 595 pence per share, valuing the UK ingredients maker's equity at approximately £2.7 billion ($3.6 billion) and implying an enterprise va.
At a glance
- Ingredion offered 595 pence per share in cash for Tate & Lyle, announced June 8, 2026
- Equity value approximately £2.7 billion ($3.6 billion); enterprise value approximately £3.7 billion ($5.0 billion)
- Offer represents an approximately 59% premium to Tate & Lyle's May 13, 2026 closing price
- Shareholders may also receive a final dividend up to 13.2 pence and interim dividend up to 6.8 pence per share
- Tate & Lyle's board unanimously recommended the offer
VERDICT — CONFIRMED
Ingredion announced on June 8 a recommended all-cash acquisition of Tate & Lyle at 595 pence per share, valuing the UK ingredients maker's equity at approximately £2.7 billion ($3.6 billion) and implying an enterprise value of roughly £3.7 billion ($5.0 billion) at the June 5 exchange rate. The price represents an approximately 59 percent premium to Tate & Lyle's closing share price on May 13, 2026, and shareholders can additionally receive a final dividend of up to 13.2 pence for the year ended March 31, 2026 and an interim dividend of up to 6.8 pence for the six months ending September 30, 2026.
Tate & Lyle's board unanimously recommended the offer, which is being executed under the UK Takeover Code and was disclosed by Ingredion in a Form 8-K with the SEC. Completion is targeted for the second half of 2027, subject to shareholder approval, UK High Court sanction and antitrust clearances.
The combination unites two specialty ingredients suppliers spanning food, beverage and personal care formulation, and removes another FTSE 250 constituent from the London market — Bloomberg framed the takeover as a 'London market exit' for the 167-year-old sugar-refining pioneer.
Why it matters
the deal extends the wave of US acquirers pulling UK-listed companies off the LSE at steep premiums, sharpening pressure on London's shrinking equity market while consolidating the global specialty ingredients sector.
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Key facts on file
- Ingredion offered 595 pence per share in cash for Tate & Lyle, announced June 8, 2026
- Equity value approximately £2.7 billion ($3.6 billion); enterprise value approximately £3.7 billion ($5.0 billion)
- Offer represents an approximately 59% premium to Tate & Lyle's May 13, 2026 closing price
- Shareholders may also receive a final dividend up to 13.2 pence and interim dividend up to 6.8 pence per share
- Tate & Lyle's board unanimously recommended the offer
- Completion targeted for second half of 2027, subject to shareholder, UK High Court and antitrust approvals
