Tate & Lyle PLC raised its bid...

Tate & Lyle PLC raised its bid for Staley Continental Inc. to $1.42 billion from an original $1.33-billion bid that the big Midwestern corn processor rejected last week as inadequate. But the $35 a share that Tate said it is now willing to pay--up from the $32--is still short of the $37 the shares traded for on the New York Stock Exchange. Lyle & Tate is a British sugar refiner.