Takeover poker: Evonik rejects increased offer from BASF
The company is also rejecting the improved BASF offer. According to insiders, Essen wants to remain an independent player in the restructuring of the chemical industry.
Evonik has rejected BASF's improved takeover bid, saying its board has decided not to enter talks on a possible acquisition. The company remains focused on its standalone strategy and development. Evonik's board is open to a confidential exchange of information with BASF, potentially leaving the door open for further discussions if BASF makes another offer.
BASF's previous offer was reportedly 24 euros per share, valuing Evonik at around 11 billion euros. Evonik already has commitments to job security and site protection that BASF had highlighted in its bid.
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.
