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BASF explores potential takeover of Evonik
BASF has made a non-binding approach to Evonik regarding a potential voluntary public takeover bid for all of the specialty chemicals company's shares. While both companies have confirmed the contact, Evonik stated that no concrete discussions are currently taking place.
Major shareholder RAG-Stiftung, which holds approximately 44 percent of Evonik, has also been approached. The foundation's stance is considered critical to the success of any potential deal. Reports suggest BASF has been exploring this acquisition with advisors for several months to expand its product portfolio and strengthen its position against international competitors, particularly from China.
The potential transaction is significant given Evonik's market valuation of over 8 billion euros. This development comes amid a broader crisis in the chemical industry, characterized by high energy costs and intense global competition. Separately, Evonik has announced plans to cut more than 3,200 jobs as part of its restructuring efforts.
Entities
BASF · Essen · Evonik · Financial Times · Ludwigshafen · RAG-Stiftung
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] BASF has been exploring a deal with advisors for several months. nius.de · supertipp-online.de · www.kapitalmarktexperten.de · lokalo.de · www.derwesten.de
- [● 4 SOURCES] The RAG-Stiftung holds approximately 44 percent of Evonik shares. nius.de · www.kapitalmarktexperten.de · www.drweb.de · www.derwesten.de
- [● 4 SOURCES] Evonik's market value is more than 8 billion euros. nius.de · supertipp-online.de · www.kapitalmarktexperten.de · www.derwesten.de
- [● 4 SOURCES] The RAG-Stiftung confirmed it had been approached by BASF regarding a potential takeover bid. nius.de · www.kapitalmarktexperten.de · lokalo.de · www.derwesten.de
- [● 2 SOURCES] Evonik shares rose by more than 9 percent following the news. www.kapitalmarktexperten.de · www.it-boltwise.de
- [● 8 SOURCES] Evonik confirmed that no concrete discussions are currently taking place. nius.de · supertipp-online.de · www.kapitalmarktexperten.de · www.it-boltwise.de · lokalo.de · +3 more
- [○ 1 SOURCE] Evonik plans to cut more than 3,200 jobs. www.hellwegeranzeiger.de
- [● 8 SOURCES] BASF has made a non-binding approach to Evonik regarding a potential voluntary public takeover bid for all shares. nius.de · supertipp-online.de · www.kapitalmarktexperten.de · www.it-boltwise.de · lokalo.de · +3 more