(Il Sole 24 Ore Radiocor) - Milano, 14 mag - Tate & Lyle said it had received a 2.74 billion pound (3.7 billion dollars) takeover offer from US rival Ingredion and that the two companies were in talks.

Under the deal, Tate & Lyle shareholders would receive up to 615 pence per share, comprising 595 pence in cash and up to 20 pence in dividends.

The proposal follows a number of earlier approaches from Ingredion to the board regarding a possible offer.

Under UK takeover rules, Ingredion has until June 11 to make a formal offer or walk away.

There can be no certainty that any offer will be made, Tate &.

Lyle said.

(RADIOCOR) 14-05-26 15:21:37 (0517) 5 NNNN