Ingredion Incorporated (NYSE:INGR) was among the stocks on Jim Cramer’s radar on Mad Money, as he advised investors to care about where a stock is going, not where it has been. Cramer noted the company’s latest acquisition announcement, as he commented:
I want to talk to you about a consolidator that might not be getting the credit it deserves, a company called Ingredion. It’s a company that makes all sorts of flavors and textures for the food and beverage industries. Stock’s down 10% for the year, in part because the company reported an imperfect quarter in early May. But earlier this month, Ingredion announced they’re acquiring Tate & Lyle, a storied British ingredients company, for roughly $3.6 billion in cash.
Now, keep in mind, this company only has $6.2 billion market capitalization. This is a huge deal that will create a powerhouse in the ingredients space. While the market barely reacted to the news, I think that’s a mistake… When you see the market, you’ll see that the stocks in decline. But you hear about the merger and you know that these guys are kind of, they will be the most important company in their industry.
Stock market data. Photo by Burak The Weekender on Pexels
Ingredion Incorporated (NYSE:INGR) refines corn and other starch ingredients into sweeteners, starches, and biomaterial solutions.
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