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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida

Tate & Lyle agrees £2.7bn takeover by US rival in new blow to London market

Ingredion Tate Lyle London United States United Kingdom Chicago
A packet of Splenda sweetener sits next to a cup of coffee and a spoon
Tate & Lyle’s sweetener Splenda. The venerable British firm sold off its famous sugar business in 2010, to focus on artificial sweeteners and specialty ingredients. Photograph: Rex Features

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.

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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