Morning Briefing Plus: Es lebe der Übernahmepoker!
BASF will Evonik übernehmen, Evonik will das nicht. Jetzt geht es ums Belauern und Bluffen – und die Frage, wie der Deal aussehen könnte. Was uns diese Woche sonst noch beschäftigt hat.
Good morning, esteemed readers. BASF, the world's largest chemical corporation, has dominated headlines over the past two and a half years by shrinking its operations. Since taking office in April 2024, Vice Chairman Markus Kamieth has focused on two objectives: cost-cutting and divestment. However, a surprise awaits. Following the restructuring of BASF, the company is planning an expansion, at least in concept.
The DAX corporation from Ludwigshafen aims to acquire Evonik from Essen for approximately ten billion euros, but Evonik has declined the offer. This marks the beginning of an acquisition war. While acknowledging the uncertainty that such a move brings for employees, customers, and shareholders of both companies, I am eagerly awaiting the outcome.
Powerful players with diverse interests are at the table, including NRW state officials (Hendrik Wüst, Armin Laschet), the federal government (Lars Klingbeil, Katherina Reiche), and the IG BCE union (Michael Vassiliadis). All are invested in the RAG Foundation, which holds 44 percent of Evonik and uses its earnings to cover the so-called eternal costs of coal mining.
Evonik's situation is further complicated by the fact that Claus Rettig is currently steering the company as Vice Chairman, as CEO Christian Kullmann is incapacitated and will be out of the picture for months.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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