Evonik rejects takeover offer from BASF

Evonik interim CEO Claus Rettig has reaffirmed the chemical company's rejection of a takeover bid from BASF. BASF previously offered 24 euros per Evonik share, valuing the company at more than 11 billion euros.

Rettig stated in an interview with the Frankfurter Allgemeine Zeitung that Evonik intends to maintain its independence, noting that industry trends favor focus over sheer size. He emphasized that Evonik's internal projections suggest the company can deliver value exceeding the current offer.

While Evonik is not proactively pursuing acquisitions, Rettig noted that the company possesses the financial strength to participate in industry consolidation if opportunities arise that create growth and value. He identified potential growth opportunities in Germany, Europe, and the United States.