Ingredion to acquire Tate & Lyle for $3.6B in all-cash deal backed by $4.2B bridge loan

Filed June 9, 2026 · Period ending June 8, 2026 · ~1 min read

Key Changes

• high

  Ingredion agreed to buy UK-based Tate & Lyle PLC for 595 pence per share in cash, totaling £2.7B (~$3.6B). Deal expected to close in second half of 2027, subject to shareholder and regulatory approval. No financing condition reduces execution risk.

  Item 1.01: Acquisition Agreement verify on EDGAR →
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  Company secured $4.225B 364-day bridge loan from JPMorgan to fund the acquisition. Loan includes financial covenants: max 4.0x leverage ratio post-deal and 3.5x minimum interest coverage. Interest rates increase 0.25% every 90 days until repaid.

  Item 2.03: Bridge Loan verify on EDGAR →
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  Ingredion obtained voting commitments from Huber Equity (16.8% of Tate & Lyle shares) and directors (0.3%) to support the deal. Huber commitment terminates if competing offer exceeds Ingredion's by 10% or more.

  Item 1.01: Shareholder Undertakings verify on EDGAR →