Tate & Lyle Blocks Shareholder Vote on Potential Takeover in Kelco Deal

Tate & Lyle has opted to bypass a shareholder vote on its £1.4bn acquisition of US-based CP Kelco, following the introduction of new regulations by the Financial Conduct Authority. The decision comes after the London-listed food giant announced in June its agreement to purchase the ingredients manufacturer from J.M. Huber Corporation, based in Atlanta.

Tate & Lyle’s CEO, Nick Hampton, had previously emphasized that the deal would accelerate growth, calling it a perfect strategic fit. The acquisition would strengthen the company’s Sweetening, Mouthfeel, and Fortification platforms, while also expanding its capabilities in four key categories and unlocking new growth opportunities.

The move comes as part of Tate & Lyle’s continued focus on growth through strategic acquisitions and expansion of its product offerings.