US group Advent International ‘preparing bid for Tate & Lyle’

Shares in food company jump 13% after reports Advent is in early stages of preparing an offer

Tate & Lyle could become the next UK company to fall to an overseas takeover offer, after reports that the US private equity firm Advent International is preparing a bid for the group.

Shares in Tate & Lyle, which makes ingredients such as artificial sweeteners, jumped by as much as 13% on Wednesday after the Financial Times reported that Advent was in the early stages of preparing an offer.