Ingredion is in advanced talks to buy Tate & Lyle for £2.7 billion, with an agreement potentially announced as soon as Monday, according to people familiar with the matter.
The planned firm offer values Tate & Lyle at 615 pence a share, unchanged from the proposal Ingredion disclosed in May.
That structure includes 595 pence a share in cash, while Tate & Lyle investors would also be entitled to receive up to 20 pence a share in dividends.
A takeover would remove another long-established company from the London stock market, extending pressure on the UK market's listed roster.