Evonik rejects BASF's EUR 10.3 billion takeover bid

· Lubricants & Chemicals · Germany

Evonik Industries AG has rejected an unsolicited EUR 10.3 billion (USD 11.5 billion) takeover approach from German chemical producer BASF SE, according to a Financial Times report. Evonik, headquartered in Essen, Germany, confirmed on September 25 that it had received the approach. The rejection sets up a potential standoff between two of Germany's largest specialty and industrial chemical producers. A combination would have reshaped the European chemicals landscape, consolidating assets across specialty chemicals and related downstream markets. The bid's size underscores the pressure on European chemical makers to consolidate amid weak demand and high energy costs. The immediate effect is that BASF must decide whether to walk away, raise its offer or pursue a hostile route, while Evonik's shareholders weigh the premium against the company's standalone prospects.

Why it matters：A successful deal would redraw Europe's chemical industry map, and its rejection signals how consolidation pressure and vertical integration are reshaping the sector globally.

Key points

  • BASF's unsolicited approach valued Evonik at EUR 10.3 billion (USD 11.5 billion).
  • Evonik confirmed receiving the approach on September 25.
  • Both companies are major German chemical producers, with Evonik based in Essen.

Sources (original reporting)

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