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Ingredion to Acquire Tate & Lyle for £2.7bn Cash

6/9/2026

39 4 Full Breakdown

Summary

Ingredion Acquires Tate

Ingredion announced a £2.7 billion all-cash takeover of Tate & Lyle that will delist it from the London Stock Exchange.
The board accepted 595p per share plus a 20p dividend on 8 June.
Hogan Lovells and Linklaters are advising on the deal.
Ingredion aims to close in the second half of 2027 after reviewing sites and workforce, pending shareholder and regulator approval.

Summary

Ingredion Merges

The merger could cut about 480 jobs, roughly 3% of the 16,000-employee workforce.
Tate & Lyle becomes the last original FT-30 member to leave London, part of a UK take-private surge.
Executives cite rising demand for texture, sugar-reduction and clean-label products driven by health trends and GLP-1 drugs.
Kline and Company estimates the combined firm will control about 15% of the world’s alternative-sweetener market.

Summary

Tate Directors Recommend

Directors of Tate & Lyle, owning about 17.1% of shares, will unanimously recommend the £2.7 billion cash offer.
The offer values each share at up to 615 pence, made up of a 595 pence cash payment, a final dividend of up to 13.2 pence to March 2026, and an interim dividend of up to 6.8 pence.
Tate & Lyle sold its Primient commodity business in the Americas and bought CP Kelco in late 2024 to focus on healthier, higher-growth ingredients.

History

Historical Context

Facing EU sugar quotas in the 1970s, Tate & Lyle diversified from its core refining and sold the sugar arm to American Sugar Refining in July 2010 for £211 million. The shift toward specialty ingredients continued, culminating in Ingredion’s £2.7 billion agreement to acquire the company in June 2026, positioning the combined firm as a major player in alternative sweeteners.

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Ingredion Acquires Tate

Ingredion announced a £2.7 billion all-cash takeover of Tate & Lyle that will delist it from the London Stock Exchange.
The board accepted 595p per share plus a 20p dividend on 8 June.
Hogan Lovells and Linklaters are advising on the deal.
Ingredion aims to close in the second half of 2027 after reviewing sites and workforce, pending shareholder and regulator approval.

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