8th Jun 2026 07:55
(Alliance News) - Tate & Lyle agrees to a GBP2.7 billion takeover by US rival Ingredion, boohoo and Revolution Beauty agree a new licensing partnership and Mpac expects profit to miss expectations.
Here is what you need to know before the London market open on Monday:
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MARKETS
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FTSE 100: called down 0.7% at 10,293.25
GBP: lower at USD1.3325 (USD1.3371 at previous London equities close)
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BROKER RATINGS
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Jefferies cuts Harbour Energy to 'hold' (buy) - price target 320 (295) pence
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Barclays reinitiates Bodycote with 'overweight' - price target 820 pence
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COMPANIES - FTSE 250
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Tate & Lyle's board agrees to a takeover offer by Ingredion which values it at around GBP2.7 billion. Ingredion is a Westchester, Illinois-based food and beverage ingredient supplier. Under the terms of the acquisition, shareholders in London-based food and beverage ingredient provider Tate & Lyle will receive 595 pence in cash per share. They will also receive a final dividend for the financial year to the end of March 2026 of no more than 13.2 pence and an interim dividend for the six months to the end of September of no more than 6.8p. The cash consideration implies a value of around GBP2.7 billion on a fully diluted basis, with an implied enterprise value of GBP3.7 billion. With the full permitted dividends, the offer values Tate & Lyle at GBP2.8 billion on a fully diluted basis with an implied enterprise value of GBP3.8 billion. Ingredion's offer is at a 59% premium to Tate & Lyle's closing share price before the offer period. Tate & Lyle's directors said the terms of the acquisition are "fair and reasonable" and recommend that shareholders vote in favour of the takeover. Tate & Lyle Chair David Hearn says: "Looking forward, we believe the next chapter with Ingredion will create a business with even greater potential, greater scale, and increased investment in innovation in support of customers. The Board of Tate & Lyle believes Ingredion's offer represents an attractive opportunity for shareholders to crystallise value in cash, and that it will be an excellent steward of Tate & Lyle."
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Balfour Beatty says the independent compliance monitorship of its US subsidiary Balfour Beatty Communities has concluded. The London-based international infrastructure construction firm says during the period, it has worked to "implement a broad improvement programme". "The conclusion of the monitorship marks an important milestone and Communities will continue to embed these improvements as part of its long-term operating model, while maintaining a strong focus on transparency, consistent delivery, operational performance, and the resident experience," the firm says. It adds that the subsidiary "remains committed" to working with the US military service to provide housing for service members and their families.
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Wickes Group completes its GBP10 million share buyback programme, which it started in April. The Watford, England-based home improvement retailer says 5.1 million shares were repurchased for cancellation, representing around 2.2% of its issued share capital.
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OTHER COMPANIES
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boohoo and Revolution Beauty agree a new licensing partnership to develop beauty and fragrance products across Debenhams brands. Boohoo, the Manchester-based online fashion retailer which trades as Debenhams, and London-based cosmetics retailer Revolution Beauty says the first collections are expected to launch ahead of Christmas. They will include fragrance and gifting ranges for PrettyLittleThing, Karen Millen and boohooMan. Further beauty and fragrance launches are planned across other brands. Boohoo Chief Executive Officer Dan Finley says: "We have been clear that we see significant global licensing opportunities for our brands, and this agreement with Revolution Beauty is a direct expression of our asset-lite strategy in action. Beauty is one of the most compelling category opportunities available to us and Revolution Beauty has the capability and relationships to bring tailored collections to market across the full portfolio." The agreement is structured as a royalty-based license, where Revolution Beauty assumes responsibility for product development, manufacturing and distribution and will pay an industry-standard royalty to Debenhams.
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Mpac Group warns it expects full-year underlying pretax profit to be "substantially below" current market expectations on a like-for-like basis. The Tadcaster, North Yorkshire-based high-speed packaging and automation solutions firm says trading margins have continued to be impacted by delays in customer decision making, competitive pricing pressure and lower operational leverage. It expects first half margins to be below the prior year. "In response to the continued challenging market backdrop, the group has implemented further actions to drive volume, align operational capacity with current demand levels, reduce overhead costs and to improve cash generation," it says. The order book at the end of May improves to GBP98.8 million from GBP90.0 million at the end of 2025. Mpac says after a strategic review, it has concluded that Lambert does not fit within its ongoing strategy. As a result, Mpac agrees to sell Lambert to Italy-based automation technology firm Mech.i. Tronic for an initial cash consideration of GBP16.0 million. Lambert creates automation solutions for product assembly processes, with a focus on the medical and consumer healthcare markets. Further earn-out consideration of up to GBP4.0 million may become payable, subject to Lambert's financial performance in 2026. Chief Executive Officer Adam Holland says: "Despite near-term market uncertainty, the group remains focused on operational execution, cash generation and deleveraging, while continuing to support customers across our core end markets and maintain strategic investment in future growth opportunities."
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Neo Energy Metals suspends Chief Financial Officer De Wet Schutte while investigating potential misconduct. The owner of uranium and gold projects in South Africa says the allegation is not in respect to any financial mismanagement, impropriety or wrongdoing, and its financial position has not been impacted. "The company and its board of directors continue to work to the highest standards of governance and integrity," it says. The firm appoints Martin Westerman to oversee its financial function with immediate effect.
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By Michael Hennessey, Alliance News reporter
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Related Shares:
Harbour EnergyBodycoteTate & LyleBalfour BeattyWickes Group P.BoohooRevolution BeautyMpac Group PlcNeo Energy Metals