Chemistry: Evonik rejects first takeover offer from BASF
The management rejects the BASF proposal for a merger. However, the RAG foundation will play a key role in the poker game. Union representatives view the project critically.
Evonik has rejected a takeover offer from rival BASF, which proposed a purchase price of around 10 billion euros. The Evonik leadership had reacted negatively to the proposal from the start and informed BASF of this on Monday. The takeover talks are not over, with BASF saying the proposal was a starting point for negotiations, although no talks are currently taking place.
The RAG Foundation, Evonik's largest shareholder, has also been approached by BASF with a non-binding takeover proposal. The IG BCE chemical workers' union has criticised the plans, demanding guarantees on jobs and sites if BASF takes over Evonik.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
