{
  "id": 10467144,
  "title": "BASF €10.3bn bid rejected by chemical rival Evonik, FT reports",
  "url": "https://urgent.news/2026/09/28/basf-10-3bn-bid-rejected-by-chemical-rival-evonik-ft-reports",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T14:48:19.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/basf-103bn-bid-rejected-by-chemical-rival-evonik-ft-reports-4920749"
  },
  "original_language": "en",
  "account": "Evonik Industries AG has dismissed a €10.3 billion takeover bid from BASF SE, according to the Financial Times. The rival German chemical company proposed a price of around €22.15 per share to the Ludwigshafen-based BASF, but Evonik deemed the offer insufficient to warrant formal negotiations. The combination would represent a significant consolidation play by BASF CEO Markus Kamieth, who aims to expand European operations amid stiff competition from U.S. and Chinese rivals. With high energy costs, global oversupply, and demand challenges in Europe, industry leaders have increasingly favored consolidation as a strategic necessity. Despite BASF's reassurance that an acquisition would bolster its core offerings, the prospect of integration has raised concerns among investors, causing the company's shares to drop nearly 4% last week. Ultimately, the decision rests with the RAG-Stiftung, the state-owned foundation with a 44% stake in Evonik, which will have to weigh potential job losses, site closures, and the company's long-term strategy.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "Evonik rejects €10.3bn BASF bid to consolidate chemicals industry",
        "url": "https://urgent.news/2026/09/28/evonik-rejects-10-3bn-basf-bid-to-consolidate-chemicals-industry",
        "published": "2026-09-28T13:32:10.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Germany’s Evonik rejects BASF’s $11.7 billion bid, sources say",
        "url": "https://urgent.news/2026/09/28/germanys-evonik-rejects-basfs-11-7-billion-bid-sources-say",
        "published": "2026-09-28T16:13:09.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}