Ingredion Is Said in Advanced Talks to Acquire Tate & Lyle

Ingredion Inc. is in advanced talks to acquire Tate & Lyle Plc in a deal valued at £2.7 billion ($3.6 billion), people with knowledge of the matter said, as another famous brand prepares to leave the London stock market.

US-based Ingredion is aiming to announce an agreement as soon as Monday, according to the people. It’s set to unveil a firm offer valued at 615 pence per share, unchanged from the proposal it disclosed in May, they said. Under that proposal, Ingredion would pay 595 pence in cash for each Tate & Lyle share, plus investors will be entitled to ...