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Evonik rejects $11.7 billion BASF takeover bid, sources say - Finance news and analysis from Global Banking & Finance Review
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Evonik rejects $11.7 billion BASF takeover bid, sources say

Published by Global Banking & Finance Review

Posted on September 28, 2026

2 min read

· Last updated: September 28, 2026

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Evonik Rejects $11.7 Billion Takeover Bid from BASF on Valuation Dispute

Details of the BASF-Evonik Takeover Negotiations

Evonik's Response to BASF's Offer

Sept 28 (Reuters) - German chemicals manufacturer Evonik has rejected a €10.3 billion ($11.70 billion) takeover bid from larger rival and BASF for being too low, sources close to the negotiations told Reuters on Monday.

BASF's Offer and Market Position

BASF, one of the world's largest chemicals makers, had offered about €22.15 per Evonik share, the sources said.

Statements from BASF and Evonik

BASF had said late last week that it was in "exploratory" talks with Evonik and on Monday said it would not comment on price. Evonik declined to comment.

Product Portfolios of BASF and Evonik

Evonik's products include high-tech plastics and feed additives as well as ingredients for coatings and household products. BASF makes engineering plastics, super absorbent polymers, vitamins and a wide range of chemicals for industrial uses.

Competitive Landscape in the Chemicals Industry

BASF is at risk of losing its ranking as the world's largest company by chemicals revenue to China's Sinopec. 

Recent Revenue Figures

Last year BASF's group revenue of €59.7 billion was almost the same as that of Sinopec's chemicals division.

Additional Information

($1 = 0.8800 euros)

(Reporting by Matthias Inverardi and Kanjyik GhoshEditing by David Goodman)

Key Takeaways

  • Evonik rejected BASF’s non‑binding takeover bid of roughly €22.15/share, deeming it insufficient, according to Reuters sources.
  • BASF had confirmed it was in exploratory talks with Evonik and anchor shareholder RAG‑Stiftung regarding a voluntary public takeover offer, though the process remains open and non‑binding.
  • The potential acquisition reflects BASF’s strategy to bolster its specialty chemicals portfolio amid a global market downturn and intensifying competition, especially from China‑based producers like Sinopec.

Frequently Asked Questions

What was the value of BASF's takeover bid for Evonik?
BASF offered €10.3 billion ($11.7 billion) to acquire Evonik.
Why did Evonik reject the BASF takeover bid?
Evonik rejected the bid, considering the offer price to be too low.
How much did BASF offer per share of Evonik?
BASF offered about €22.15 per Evonik share.
What products do Evonik and BASF manufacture?
Evonik makes high-tech plastics, feed additives, and chemical ingredients, while BASF produces engineering plastics, polymers, vitamins, and various industrial chemicals.
What is the competitive context for BASF in the global market?
BASF risks losing its top ranking by chemicals revenue to China's Sinopec, as their revenues were nearly identical last year.

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