Fresh blow to City as US private equity giant Advent International plots swoop on Tate & Lyle

A US private equity giant is preparing to swoop on London-listed Tate & Lyle in a further blow to the City. Target: US private equity giant Advent International is reportedly in the early stages of putting together a bid for the 165-year-old British ingredients supplier Tate & Lyle A potential takeover of the firm comes as London’s stock market faces a crisis amid an exodus of companies. Without the baggage, Tate & Lyle had the right ingredients to become a leaner and healthier business and that appears to have put dollar signs in Advent’s eyes.’ He added: ‘It feels like Advent – if the rumours are correct – spotted an opportunity to run the numbers on Tate & Lyle while it was busy bedding in the CP Kelco deal. ‘Pouncing on a business when it is distracted is par for the course with private equity, and the big question now is whether Advent is prepared to offer a fair price to win over shareholders.’ London’s stock market is facing a crisis amid a flurry of takeovers, or companies deciding to move their listings or opting to float in rival cities such as New York.