Evonik rejects BASF’s $12.5 billion takeover approach and refuses formal talks

Oct 30, 2026 05:58 (9h ago)

Evonik rejected BASF’s $12.5 billion voluntary public takeover approach and declined formal negotiations.
BASF’s revised proposal offered €24 per share, up from €22.15 previously.
Evonik’s Executive Board said it remains focused on the company’s standalone strategy.

Evonik has rejected BASF’s voluntary public takeover approach, valued at about $12.5 billion, and declined to enter formal negotiations. BASF had raised its proposal to €24 per share from €22.15, valuing the offer at €11.18 billion, or about $12.48 billion. Evonik said its Executive Board remains focused on its standalone strategy, although it is willing to explain its position to BASF on a purely informational and confidential basis. Evonik is also considering a $3.3 billion acquisition of U.S. specialty chemicals company Ashland, a transaction BASF considers too risky.