Staley Continental huddled with Tate & Lyle...

Staley Continental huddled with Tate & Lyle PLC, which announced a one-day extension of its $1.38-billion buyout bid for Rolling Meadows, Ill.-based Staley. But Staley, a major U.S. producer of corn syrup and food-service supplies, said the talks with its British suitor did not mean it was ready to sell. “We can confirm we are talking with Tate & Lyle, but I want to emphasize that we are continuing negotiations with other parties as well,” said Staley spokesman David Satterfield. Meanwhile, London-based Tate & Lyle announced that it had extended its $35-per-share cash tender offer for Staley until midnight EDT tonight.