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BASF could make higher offer for Evonik, sources say - Finance news and analysis from Global Banking & Finance Review
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BASF could make higher offer for Evonik, sources say

Published by Global Banking & Finance Review

Posted on October 9, 2026

1 min read

· Last updated: October 9, 2026

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BASF May Increase Its Offer for Evonik After Initial Rejection, Sources Report

Potential BASF Bid Increase and Negotiation Developments

Initial Offer and Response

DUESSELDORF, Germany, Oct 9 (Reuters) - BASF could make a higher offer for Evonik if there are talks with the specialty chemicals maker, sources close to BASF told Reuters on Friday.

"It is safe to assume that the current offer is not the final word," one of the sources said.

Shareholder Considerations and Board Discussions

BASF welcomed that the board of Evonik's largest shareholder, the RAG foundation, was considering the offer, the sources said, adding that a committee of BASF's supervisory board will convene on Friday to discuss Evonik.

BASF declined to comment.

Background on the Offer and Rejection

Evonik said in September it had received a non-binding approach from BASF regarding a voluntary public takeover offer for all its shares, but added that no talks were currently taking place.

Sources close to the negotiations later said Evonik had rejected the offer, valued at €22.15 per Evonik share, as too low.

Reporting Credits

(Reporting by Matthias Inverardi, writing by Linda Pasquini, editing by Thomas Seythal)

Key Takeaways

  • BASF confirmed exploratory discussions with Evonik and RAG‑Stiftung regarding a possible acquisition of Evonik (basf.com)
  • Evonik acknowledged receiving a non‑binding voluntary takeover approach and confirmed that no formal talks are currently underway (marketscreener.com)
  • Evonik reportedly rebuffed an initial €22.15-per-share bid, valuing the company at about €10.3 billion, as too low, but sources suggest BASF might submit a higher offer in subsequent discussions (icis.com)

References

Frequently Asked Questions

Why might BASF raise its offer for Evonik?
Sources say BASF could increase its offer if talks progress, as the initial bid was rejected as too low.
What was Evonik's response to BASF's initial offer?
Evonik rejected the initial offer of €22.15 per share, considering it too low.
Is BASF currently in talks with Evonik about a takeover?
As of now, no talks are taking place, but BASF is open to negotiations.
Who is the largest shareholder of Evonik?
Evonik's largest shareholder is the RAG foundation.
What actions is BASF's supervisory board taking regarding Evonik?
A committee of BASF's supervisory board is convening to discuss the potential Evonik deal.

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