Jim Cramer highlighted Ingredion on Mad Money, arguing the market is overlooking its $3.6 billion cash acquisition of British ingredients company Tate & Lyle. He noted that Ingredion, which makes flavors and textures for the food and beverage industries, has a market capitalization of only $6.2 billion, making this a transformative deal that will create a powerhouse in the ingredients space. Cramer pointed out that the stock is down 10% for the year, partly due to an imperfect quarter in early May, but he believes the merger will make Ingredion the most important company in its industry.
Ingredion IncorporatedIngredion is acquiring Tate & Lyle in a transformative $3.6B cash deal, which Cramer says will make it a powerhouse.
Tate & Lyle PLCTate & Lyle is being acquired by Ingredion for $3.6B cash, a premium to its market value.