16th Oct 2024 16:13
(Alliance News) - Shares in Tate & Lyle PLC jumped on Wednesday following a report that a US buy-out firm is preparing to launch a bid.
The Financial Times said Advent International is preparing a takeover offer for the UK firm that would mark private equity's latest attempt to acquire a London-listed group.
The Boston, US-based buyout firm is in the early stages of its bid preparations, according to FT sources, but there was no certainty that a firm offer would be made.
Advent has yet to propose an offer, the FT said, but if it were made it would exceed Tate & Lyle's GBP2.8 billion market value.
https://www.ft.com/content/581ce11e-45fa-4e8e-8561-55c6e7d8d6d0
Shares in Tate & Lyle, the London-based supplier of food and beverage products climbed 11% to 826.00 pence each in London on Wednesday afternoon, giving it a market value of GBP3.21 billion.
The firm is currently in the midst of purchasing gum maker CP Kelco in a USD1.8 billion deal.
By Jeremy Cutler, Alliance News reporter
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