Tate & Lyle Accepts Bid From Ingredion in Loss for London (2)

Ingredion Inc. agreed to buy Tate & Lyle Plc for £2.7 billion ($3.6 billion), in a move that marks the end of the UK company’s near-century on the London Stock Exchange.

The US company is offering 595 pence in cash for each Tate & Lyle share, and investors will be entitled to receive up to 20 pence per share in dividends, according to a statement Monday. The price represents a nearly 60% premium to Tate & Lyle shares before news of the potential offer was revealed.

Read More: Ingredion Is Said in Advanced Talks to Acquire Tate & Lyle

WATCH: Ingredion Chief Executive Officer James Zallie talks about the deal to buy Tate & Lyle of the UK.

Source: Bloomberg