Tate & Lyle agrees £2.7bn takeover by US rival in new blow to London market
British food company Tate & Lyle has agreed to a £2.7bn takeover by the US-based firm Ingredion. The deal is expected to result in approximately 475 job losses as the companies integrate their operations.
Why it matters
This acquisition marks another significant departure of a long-standing British firm from the London Stock Exchange, highlighting ongoing concerns about the competitiveness of the UK market.
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 View image in fullscreen 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 and Lyle Tate & Lyle agrees £2.7bn takeover by US rival in new blow to London market Venerable but struggling UK firm backs deal with Chicago-based Ingredion putting nearly 500 jobs worldwide at risk
The article reports on a corporate merger using standard financial journalism practices, focusing on the facts of the deal and its impact on employment.
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