BASF considers higher takeover bid for Evonik pending audit

BASF is reportedly prepared to increase its takeover bid for the specialty chemicals company Evonik, provided it is granted access to conduct an audit of Evonik’s books. An initial non-binding offer of 22.15 euros per share was previously rejected by Evonik as being too low. If a higher offer is reached, the transaction would value Evonik at more than 14 billion euros, including debt.

Sources indicate that BASF intends to honor existing agreements regarding job security and site preservation at Evonik. While Evonik has planned job reductions, operational redundancies in Germany are excluded until 2032, with cuts intended to be voluntary via severance packages. BASF is also expected to review Evonik’s plans for potential divestments, including the chemical park operator Syneqt.

The RAG-Stiftung, Evonik’s largest shareholder, has been informed of BASF’s interest but has not yet made a formal stance, referring the companies to bilateral negotiations. Market analysts and investors are currently speculating on a potential purchase price of approximately 25 euros per share.