GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
BASF raises Evonik offer to €24 a share, source says - Finance news and analysis from Global Banking & Finance Review
Finance

BASF raises Evonik offer to €24 a share, source says

Published by Global Banking & Finance Review

Posted on October 23, 2026

1 min read

· Last updated: October 23, 2026

Add as preferred source on Google

BASF Raises Takeover Offer for Evonik to €24 a Share Amid Job Guarantees

BASF's Revised Takeover Bid for Evonik: Details and Market Response

Offer Increase and Financial Details

MUNICH, Oct 23 (Reuters) - Germany-based BASF has increased its takeover offer for chemicals manufacturer Evonik Industries to €24 ($26.86) per share, a person close to BASF told Reuters on Friday.

Evonik's Response

Evonik declined comment.

Media Coverage and Reported Figures

Bloomberg News first reported on Friday that BASF raised its offer for Evonik to more than €11 billion ($12.31 billion), citing people familiar with the matter.

Job Guarantees and Production Sites

BASF's revised offer comes with guarantees on jobs and Evonik's productions sites.

Background and Previous Discussions

Evonik and BASF said in September that BASF had approached it about a possible takeover.

Market Reaction

Stock Performance

Evonik's stock was up 3.1% at 1147 GMT, BASF shares were down 0.42%.  

Reporting Credits

(Reporting by Alexander Huebner in Munich, Sathvi G Bhat in Bengaluru; Writing by Tristan Veyet in Gdansk, Editing by Jonathan Ananda and Matthias Williams)

Key Takeaways

  • BASF increased its offer to €24 per share (approx. $26.86), valuing Evonik at over €11 billion (investing.com).
  • This follows Evonik’s rejection of an earlier €22.15/share (~€10.3 billion) bid, deemed too low (live.euronext.com).
  • BASF sweetened the proposal with guarantees on jobs, collective agreements and continued operation of key Evonik sites through 2032 (basf.com).

References

Frequently Asked Questions

What is BASF's new takeover offer for Evonik?
BASF has raised its takeover offer for Evonik Industries to €24 per share, totaling more than €11 billion.
Did Evonik comment on the revised offer from BASF?
Evonik declined to comment on BASF's revised takeover offer.
Are there any guarantees included in BASF's offer?
BASF's revised offer includes guarantees on jobs and Evonik's production sites.
How did Evonik's stock react to BASF's takeover offer?
Evonik's stock rose by 3.1% following the news of BASF's increased offer.
Who first reported BASF's increased offer for Evonik?
Bloomberg News first reported on BASF raising its offer for Evonik above €11 billion.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category