Ingredion to acquire Tate & Lyle for £2.7bn in recommended cash offer

Ingredion Inc has agreed to acquire Tate & Lyle PLC for 595 pence per share in cash plus permitted dividends, valuing the company at approximately £2.7 billion ($3.6 billion) and representing a 58.7% premium to the pre-announcement share price. The transaction combines two major ingredients and starches producers and is expected to create significant shareholder value for both companies.