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BASF, Evonik management held talks over weekend, sources say - Finance news and analysis from Global Banking & Finance Review
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BASF, Evonik management held talks over weekend, sources say

Published by Global Banking & Finance Review

Posted on November 9, 2026

1 min read

· Last updated: November 9, 2026

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BASF and Evonik Executives Meet for Takeover Talks After Bid Rejection

Overview of BASF's Takeover Attempt of Evonik

Executive-Level Discussions

DUESSELDORF, Nov 9 (Reuters) - The chief executives and chief financial officers of takeover target Evonik and suitor BASF held talks over the weekend, two people familiar with the matter told Reuters on Monday.

Evonik's Response

An Evonik spokesperson declined to comment.

Details of the Takeover Bid

Evonik's Rejection of BASF's Offer

Evonik at the end of October rejected BASF's sweetened takeover offer which valued Evonik at €11.18 billion ($12.48 billion), or €24 per share, but had asked the suitor's management to elaborate on the rationale for its bid.

Previous Offers

BASF had originally offered €22.15 per share, which Evonik rejected in September.

Additional Information

($1 = 0.8961 euros)

(Reporting by Matthias Inverardi, additional reporting by Patricia WeissWriting by Linda PasquiniEditing by Sabine Wollrab and Ludwig Burger)

Key Takeaways

  • BASF and Evonik met informally over the weekend to discuss BASF’s takeover offer, as confirmed by two sources familiar with the matter.
  • Evonik had rejected BASF’s sweetened €11.18 billion offer (at €24 per share), requesting further rationale before proceeding.
  • Prior to the sweetened bid, Evonik dismissed BASF’s original €22.15 per share proposal as too low (~€10.3 billion).

Frequently Asked Questions

What prompted BASF and Evonik management to meet over the weekend?
The management teams met to discuss BASF's takeover proposal after Evonik rejected the latest sweetened offer.
How much was BASF's latest takeover offer for Evonik?
BASF's latest offer valued Evonik at €11.18 billion, or €24 per share.
Why did Evonik reject BASF's original takeover offer?
Evonik rejected BASF's earlier offer of €22.15 per share and sought more information on the rationale for the bid.
Did Evonik comment on the reported weekend talks with BASF?
An Evonik spokesperson declined to comment on the talks.
What is the current exchange rate mentioned in the article?
The article notes the exchange rate as $1 = 0.8961 euros.

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