[REVISION HISTORY]

Evonik corporate investment and BASF takeover interest

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What changed

2026-10-31 18:11 UTC → 2026-11-05 15:53 UTC · added ~~removed~~

German chemical company Evonik has undertaken significant operational and strategic developments. In mid-September 2026, the company announced an 80 million euro investment in its Slovenská Ľupča plant in Slovakia to expand biotechnological capacities, expected to be completed in early 2028. Following reports of a potential takeover, Evonik confirmed on September 25, 2026, that BASF has made a non-binding approach to acquire the company through a voluntary public takeover bid. While initial reports suggested no concrete discussions were taking place, by September 28, both companies confirmed that exploratory talks are underway. On September 28, Evonik rejected an initial non-binding offer of approximately €22.15 per share, which would value the company at roughly €14.2 billion including debt. Management stated the bid did not “fully reflect the strategic value of their high-margin specialty chemical business.” The potential acquisition has triggered significant political backlash in North Rhine-Westphalia. Jochen Ott, chairman of the SPD parliamentary group, criticized the move as an “attack on the lifeblood of the Ruhr area” and warned against the “sell-off” of the region’s industrial base. By October 7, 2026, the SPD proposed that the state government consider becoming a shareholder in Evonik, potentially partnering with the RAG-Stiftung to establish a controlling interest of more than 50 percent. By mid-October 2026, BASF attempted to advance the bid by offering assurances regarding job security and site preservation. On October 14, reports indicated BASF is prepared to increase its bid, provided it is granted access to conduct an audit of Evonik’s books. On late October ~~27 and 28,~~ 2026, reports indicated BASF increased its bid ~~for Evonik~~ to €24 per share, valuing the potential deal at approximately €11 billion. ~~On October 30,~~ In early November 2026, Evonik officially ~~declined to enter~~ rejected the takeover ~~negotiations with BASF,~~ attempt. Interim CEO Claus Rettig reaffirmed the decision, stating ~~its board remains focused on its strategic direction~~ that industry trends favor focus over sheer size and that internal projections suggest the company can deliver value exceeding the current offer. Evonik leadership also criticized the timing of the offer, which followed the announcement that CEO Christian Kullmann would be temporarily unavailable due to illness, describing the timing as ~~an independent company.~~ “really strange.”

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