Ingredion Incorporated confirmed it has made a non-binding indicative all-cash offer for Tate & Lyle (TATE.L) at a price of 595 pence per Tate & Lyle share.
TATE.L closed Thursday's regular trading at 545.00 pence up 170.20 pence or 45.41%.
As per the terms of the possible Offer, Ingredion would agree that Tate & Lyle would be permitted to declare and pay two ordinary course dividends in the form of a final dividend for the financial year ended 31 March 2026 of up to 13 pence per Tate & Lyle share and an interim dividend for the six months to 30 September 2026 of up to 7 pence per Tate & Lyle share.
Ingredion is engaged in discussions and a period of due diligence with Tate & Lyle to further explore a potential transaction. Discussions are ongoing, and there can be no certainty that a binding offer will be made.
As per the U.K, Ingredion will have until 5.00 pm (London Time) on 11 June 2026 to either announce a firm intention to make an offer for Tate & Lyle or announce that it does not intend to make such an offer.
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