Tate & Lyle shareholders say yes to Ingredion takeover

Tate & Lyle PLC on Tuesday announced that its shareholders have voted in favour of its £2.7 billion acquisition by US peer Ingredion Inc.

The London-based maker of food and beverage ingredients said all resolutions were passed at the court meeting and general meeting of scheme shareholders, with 98.64% votes in favour of the takeover.

Tate & Lyle expects the scheme to become effective during the second half of 2027.

The company's directors unanimously recommended Ingredion's acquisition bid in early June, with the latter offering 595 pence per share, not including dividends. This was roughly a 60% premium to the company's closing share price of 374.80p on May 13, the day before its offer period began.

The all-cash offer values Tate & Lyle's equity at £2.7 billion and implies an enterprise value of £3.7 billion, including debt.

In addition, Tate & Lyle shareholders will be eligible to receive a final dividend for the year ended in March of up to 13.2p per share and an interim dividend for the first half of financial 2027 of up to 6.8 per share.

Assuming that the dividends are paid in full, the Ingredion offer values Tate & Lyle at 615p per share, about 64% higher than the May 13 closing share price, or £2.8 billion in total, and implies an enterprise value of £3.8 billion.

Tate & Lyle shares were flat at 555.50p each on Tuesday afternoon in London.

Copyright 2026 Alliance News Ltd. All Rights Reserved.