Kirkland & Ellis International LLP, led by corporate partners Keir MacLennan and Rachael Coffey, is advising Huber. White & Case LLP is handling foreign direct investment and antitrust filings with a team including partners James Killick, Heather Greenfield, Orion Berg, and Michael Engel.
Financial Structure and Shareholder Impact
Tate & Lyle will partially fund the cash portion of the deal through a new $600 million bridge-financing loan provided by Citibank. Additionally, Tate & Lyle will issue 10 million shares to Huber after two years if Tate & Lyle’s share price reaches at least £10.
Following the announcement, Tate & Lyle’s shares dropped 6.57% to 632.50 pence from 677 pence on Wednesday. Russ Mould, investment director at AJ Bell, noted investor concerns about the scale of the deal, highlighting that large acquisitions can often destroy shareholder value if not executed correctly.
Strategic Implications
Nick Hampton, CEO of Tate & Lyle, emphasized that the acquisition will position the company to benefit from trends favoring plant-based, clean-label, and sustainable ingredients. The deal will create a leading global specialty food and beverage business.
