Tate & Lyle PLC and Staley Continental...

Tate & Lyle PLC and Staley Continental announced that they have entered into a definitive merger agreement, providing for the acquisition of Staley by RP Acquisition, a wholly owned subsidiary of Tate & Lyle. The agreement provides that RP will pay $36.50 a share for Rolling Meadows, Ill.-based Staley and will continue to offer to purchase any $3.50 depositary preferred shares of Staley and any $3.75 cumulative preference shares of Staley at $53.15 per depositary preferred share and $105 per preference share, respectively.