Staley Continental Inc., the nation’s second-largest refiner...
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Staley Continental Inc., the nation’s second-largest refiner of corn sweeteners, said it is reviewing a $1.33-billion buyout offer from Tate & Lyle PLC, a major British sugar refiner and distributor. The acquisition would give Tate & Lyle its first interest in the U.S. corn syrup market. Tate and Lyle, which already owns nearly 5% of the stock of Rolling Meadows, Ill.-based Staley, offered $32 a share for the rest of its 30.4 million outstanding shares.
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