Tate & Lyle Surges After FT Reports Advent Is Preparing Bid
- Deal would be the latest in wave of M&A in ingredients sector
- Tate & Lyle shares in London up more than 12% on the report
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Ingredients company Tate & Lyle Plc surged after the Financial Times reported that buyout group Advent International is preparing a takeover bid.
Shares in the London-listed supplier to food producers rose more than 12% on the report, giving the company a market capitalization of about £3.2 billion ($4.2 billion).