{
  "id": 19143974,
  "title": "Chemie: Evonik lehnt auch nach Austausch mit BASF Übernahme ab",
  "url": "https://urgent.news/2026/11/09/chemie-evonik-lehnt-auch-nach-austausch-mit-basf-ubernahme-ab",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-09T11:09:19.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/unternehmen/industrie/chemie-evonik-lehnt-auch-nach-austausch-mit-basf-uebernahme-ab/100268404.html"
  },
  "original_language": "de",
  "account": "In a bid to acquire the German chemical company Evonik, BASF and Evonik executives held their first in-person talks on Saturday in Frankfurt. The meeting, which included the CEOs, finance executives, and advisors from both companies, was described as a \"purely informative exchange,\" according to insiders. Evonik reiterated its commitment to maintaining its independence and stated its plans to increase its value in the coming years. BASF, on the other hand, had offered to join forces, claiming that the joint venture could benefit both companies. BASF had initiated the takeover bid for Evonik in September and had raised its offer to around €11 billion, or €24 per Evonik share. Evonik executives immediately rejected the offer and reaffirmed it at the weekend meeting. The core argument was that Evonik's specialty chemicals businesses would perform better within the planned structure. No negotiation plan was discussed, and the companies parted ways without any concrete plan for future negotiations. The Evonik Board of Directors will meet for the first time on November 25, with the next regular meeting taking place the day before. BASF plans to launch its annual capital market day on November 24, focusing primarily on the planned IPO of its agricultural division in 2027, which could generate between €5 billion and €6 billion in proceeds for potential external reinforcement of Evonik's core businesses. Evonik is seen as the preferred option for BASF, but not the only one, according to industry insiders. It is considered unlikely that movement in the matter will occur before the two upcoming meetings at the end of November. Evonik expects CEO Christian Kullmann to return to work in early next year after his recent surgery. Kullmann is currently being represented by Vice Chairman Claus Rettig, who is considered a close associate of Kullmann.",
  "summary": "Die Chefs der Chemiekonzerne haben sich am Wochenende erstmals zu Gesprächen getroffen. Nach Handelsblatt-Informationen sind konkrete Verhandlungen nicht in Sicht.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}