BASF reportedly increases takeover bid for Evonik to 24 euros per share

BASF has reportedly submitted an increased takeover offer for specialty chemicals company Evonik, raising its bid to approximately 24 euros per share. This potential transaction, valued at roughly 11 billion euros in total, follows an initial offer of 22.15 euros per share that was rejected by Evonik.

If successful, the deal would represent the largest merger in the German chemical industry. The acquisition is seen as strategically complementary, combining BASF’s strength in basic chemicals with Evonik’s expertise in specialty chemicals.

The RAG-Stiftung, which holds approximately 43% of Evonik’s shares, remains a critical stakeholder in the process. While insiders suggest the higher offer has been made, official representatives from both companies have declined to comment on the reports. Following the news, Evonik’s share price rose by more than 3% to 21.34 euros.