Germany's BASF approaches Evonik to create global chemicals giant
BASF is weighing a richer offer for Evonik after an initial bid exceeding 14 billion euros was rejected. Negotiations are currently on hold due to political resistance and the need for due diligence. While Evonik continues to rebuff BASF, its shares are trading near 52-week highs. The standoff persists as Evonik manages other corporate priorities, including the expectation of final Oxeno bids and its own quarterly financial reporting in November.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ BASF is considering a higher offer for Evonik.
- ✓ Negotiations are currently on hold.
- ✓ Evonik shares are trading near 52-week highs.
What changed
BASF is now considering a higher bid while Evonik shares reach near 52-week highs.
Live updates
-
BASF considers higher bid for Evonik as merger talks stall
BASF is weighing a richer offer for Evonik after an initial bid exceeding 14 billion euros was rejected. Negotiations are currently on hold due to political resistance and the need for due diligence. While Evonik continues to rebuff BASF, its shares are trading near 52-week highs. The standoff persists as Evonik manages other corporate priorities, including the expectation of final Oxeno bids and its own quarterly financial reporting in November.
Why it matters
The potential merger would create a global chemicals giant. BASF previously pledged to maintain German production bases and employment to appease North Rhine-Westphalia politicians.
What is confirmed
- BASF is considering a higher offer for Evonik.
- Negotiations are currently on hold.
- Evonik shares are trading near 52-week highs.
Still unconfirmed
- Union leader Vassiliadis is taking a more open stance toward the potential deal.
- Evonik expects final Oxeno bids in November.
- Evonik will report Q3 2026 results on 3 November.
What to watch next
- Evonik Q3 2026 earnings report on 3 November
- Submission of a revised bid from BASF
- Outcome of Oxeno bidding process
confidence 90%Sources used for this update (3)
- www.ad-hoc-news.de — Evonik’s takeover puzzle widens as BASF weighs a richer bid
- www.chemorbis.com — German union leader sees opportunity in potential BASF-Evonik ...
- www.ad-hoc-news.de — Evonik's Standoff With BASF Runs Into a Packed November ...
-
BASF pledges to maintain Evonik jobs and production in Germany
BASF has committed to upholding existing employment and production base guarantee clauses for Evonik Industries in Germany if the acquisition is completed. This pledge addresses previous concerns from North Rhine-Westphalia political leaders regarding potential job cuts. While BASF remains open to the acquisition of the Essen-based specialty chemicals company, the merger talks remain undecided. The company previously sought to acquire Evonik in a deal initially valued at more than 14 billion euros, which was rejected for being too low.
Why it matters
The potential merger aims to create a global chemicals giant. The RAG Foundation previously removed its veto floor to clear a path for the deal. Political scrutiny remains high due to the industrial policy implications for the region.
What is confirmed
- BASF will maintain existing employment and production base guarantee clauses for Evonik in Germany if the acquisition is completed.
- BASF remains open to acquiring the Essen-based specialty chemicals company Evonik.
Still unconfirmed
- BASF may revise its offer for Evonik.
What to watch next
- BASF review of Evonik financial records
- A revised takeover bid from BASF
- Official confirmation of a merger agreement
confidence 90%Sources used for this update (3)
- www.europesays.com — BASF and Evonik: Merger talks remain undecided - Germany
- news.chemnet.com — BASF makes major concessions: plans to commit that it will ...
- www.ad-hoc-news.de — BASF Signals Flexibility on Evonik Guarantees as Bernstein ...
-
BASF Considers Raised Evonik Bid
BASF is open to increasing its takeover offer for rival chemicals company Evonik after an initial approach valuing the target at more than 14 billion euros was rejected as too low. Sources indicate BASF might raise its bid and provide commitments for jobs and corporate sites, but only after reviewing Evonik's books. Meanwhile, political leaders in North Rhine-Westphalia have debated the transaction in state parliament amid fears of potential job cuts and an industrial policy shift. The RAG Foundation previously removed its veto floor concerning Evonik, clearing a potential path for the multi-billion euro deal.
Why it matters
A successful transaction would fuse the companies into a massive chemicals powerhouse, altering the competitive landscape for specialty chemicals and cosmetic ingredient supply. The potential deal has triggered intense political scrutiny in North Rhine-Westphalia, where leaders demand strict job security and institutional independence for Evonik. BASF continues to advance its specialty chemicals strategy through portfolio reviews while maintaining a disciplined stance on the transaction.
What is confirmed
- BASF offered 22.15 euros per share in an initial approach that valued Evonik at more than 14 billion euros including debt.
- North Rhine-Westphalia's state parliament debated BASF's takeover offer at the request of the SPD.
- SPD parliamentary group leader Jochen Ott stated that a takeover of Evonik would represent an industrial policy shift with far-reaching consequences.
Still unconfirmed
- BASF is considering raising its initial takeover offer for Evonik.
What to watch next
- Formal submission of a revised takeover bid by BASF.
- Access to Evonik's books for financial review.
- Further decisions or demands from North Rhine-Westphalia lawmakers regarding job security.
confidence 90%Sources used for this update (6)
- www.marketscreener.com — Sources: BASF Open to Higher Bid for Evonik
- www.marketscreener.com — NRW state parliament debates BASF bid for chemical company Evonik
- www1.wdr.de — BASF will Evonik: RAG-Sitzung berät über Evonik - wdr.de
- www.wiwo.de — BASF vor Evonik-Übernahme: Konzern will Offerte aufstocken
- incifile.com — BASF–Evonik Merger: What a €74bn Chemicals Giant Means for ...
- chemicals.economictimes.indiatimes.com — BASF’s speciality chemicals push gathers pace as Evonik deal ...
-
Germany's RAG Foundation Drops Evonik Veto Floor
Germany's RAG Foundation has removed its veto floor concerning Evonik Industries AG, clearing a potential path forward amid BASF's pursuit of a 10.3 billion euro takeover. The move follows Evonik's rejection of an initial offer of about 22.15 euros per share, which the target company deemed too low. Political leaders in North Rhine-Westphalia have expressed concerns, demanding job security and institutional independence for Evonik. BASF maintains a disciplined stance on the transaction, while labor union leader Michael Vassiliadis has recused himself from the ongoing negotiations.
Why it matters
The RAG Foundation has served as the cornerstone asset holder for Evonik Industries AG for nearly two decades, making its policy shift a significant development for corporate consolidation in the German chemical sector. BASF's initial takeover bid valued the company at 10.3 billion euros, triggering intense political scrutiny from regional authorities in North Rhine-Westphalia due to employment and independence fears. The standoff highlights the delicate balance between industrial consolidation and regional labor interests in Germany.
What is confirmed
- Evonik rejected a 10.3 billion euro takeover bid from BASF.
- North Rhine-Westphalia demanded job security and independence for Evonik.
Still unconfirmed
- BASF could raise its offer after insiders indicated the company does not intend to abandon its pursuit of Evonik.
What to watch next
- Whether BASF submits a revised takeover offer following the removal of the RAG Foundation veto floor
- Further statements from North Rhine-Westphalia political leaders regarding workforce protections
confidence 100%Sources used for this update (2)
- www.europesays.com — Germany Coal Fund Drops Evonik Veto Floor, Opening Path to ...
- www.globalcosmeticsnews.com — German State Raises Jobs and Independence Concerns Over ...
-
Evonik Rejects BASF Takeover Bid as Political Pressure Mounts
German chemical maker Evonik rejected a 10.3 billion euro takeover bid from BASF, arguing the offer of about 22.15 euros per share was too low. BASF stated it is taking a disciplined approach to the potential transaction and declined to comment on price. Following the rejection, insiders indicated that BASF does not intend to abandon its pursuit of its rival and could raise its offer. Meanwhile, political leaders in North Rhine-Westphalia demanded job security and independence for Evonik, while labor union leader Michael Vassiliadis recused himself from the negotiations.
Why it matters
European chemical companies face a severe industry crisis driven by high energy costs, weak demand, and competition from Asian markets, particularly China. A successful merger would combine BASF's scale and integration with Evonik's specialized technology platforms, creating an 84 billion dollar entity. The RAG-Stiftung holds a 43 percent stake in Evonik, placing major stakeholders at the center of the ongoing corporate battle.
What is confirmed
- Evonik rejected a 10.3 billion euro takeover bid from BASF as too low.
- BASF offered about 22.15 euros per share to acquire Evonik.
- The government of the German state of North Rhine-Westphalia stated that Evonik jobs and independence must be protected.
- IGBCE head Michael Vassiliadis recused himself from the BASF talks.
Still unconfirmed
- BASF does not intend to give up its efforts to take over Evonik and could raise its offer.
What to watch next
- Whether BASF will formally submit a higher takeover bid for Evonik
- Decisions by the RAG-Stiftung regarding its 43 percent stake in Evonik
- Further political or labor union interventions from North Rhine-Westphalia officials
confidence 95%Sources used for this update (8)
- www.europesays.com — BASF has explored Evonik merger this year – sources - Germany
- www.europesays.com — Germany’s Evonik rejects BASF’s $11.7 billion bid, sources say
- klinegroup.com — What A BASF–Evonik Merger Could Mean For Specialty Chemicals
- www.marketscreener.com — Insider: BASF offer for Evonik "not the last word"
- news.chemnet.com — Germany's political intervention puts BASF's $10 billion ...
- www.ad-hoc-news.de — Evonik's Takeover Saga: A Union Boss's Dilemma, a €10.3 ...
- www.iux24.com — German state defends Evonik independence | IUX24
- www.marketscreener.com — BASF considers raising offer for Evonik, sources say
-
BASF enters talks to acquire Evonik
BASF SE confirmed on 25 September 2026 that it is holding exploratory discussions with Evonik Industries AG management and the RAG-Stiftung regarding a potential takeover. The move aims to consolidate global businesses and strengthen specialty chemical portfolios. This potential merger would create an 84 billion dollar entity. European chemical firms are currently facing a deep industry crisis driven by high energy costs, weak demand, and intense competition from Asian markets.
Why it matters
The RAG Foundation previously indicated it might sell its 44 percent stake in Evonik, removing a blocking minority that prevented takeovers. This consolidation effort reflects a broader trend of European companies restructuring to survive rising operational expenses.
What is confirmed
- BASF SE confirmed exploratory discussions regarding a potential takeover of Evonik Industries AG with Evonik management and RAG-Stiftung on 25 September 2026.
- European chemical companies are restructuring to counter Asian competition and rising energy expenses.
Still unconfirmed
- BASF acquired Evonik on 5 October 2026.
What to watch next
- Official confirmation of a finalized purchase agreement or a formal rejection of the bid
- Disclosure of the specific financial terms of the acquisition offer
confidence 70%Sources used for this update (4)
- chemicalmarketanalytics.com — BASF & Evonik: Global Capacity Analysis
- breakthroughgroup.com — BASF’s Bid for Evonik Signals Race to Counter Asia
- chemicals.economictimes.indiatimes.com — BASF’s Evonik overture signals a wider chemicals shake-up in ...
- app.fundz.net — BASF acquires Evonik (October 2026) - app.fundz.net
-
Germany Coal Fund Drops Evonik Veto Floor, Opening Path to BASF
Germany's RAG Foundation confirmed it could sell its entire 44 percent stake in Evonik, eliminating the blocking minority floor that previously protected the company from a takeover. This shift follows earlier exploratory talks initiated by BASF regarding a potential acquisition of Evonik. That prospective transaction could forge an eighty-four billion dollar chemical giant. European chemical companies are currently restructuring operations to offset climbing energy expenses and Asian competition while bolstering their specialty portfolios amid a deep industry crisis.
Why it matters
European chemical producers face severe economic pressures driven by escalating energy costs and fierce competition from Asia. Companies are actively restructuring to fortify specialty chemicals portfolios and survive the downturn. The involvement of the RAG Foundation as a major shareholder is crucial because its potential willingness to sell removes a key structural barrier to consolidation in the domestic market.
What is confirmed
- BASF has initiated exploratory talks regarding a potential takeover of smaller peer Evonik.
- The prospective deal could create an eighty-four billion dollar chemical giant.
- Germany's RAG Foundation confirmed it could sell its entire 44 percent Evonik stake.
Still unconfirmed
- The course and outcome of the negotiations remain open as the European chemical sector navigates a deep industry crisis.
What to watch next
- Further announcements from BASF or Evonik regarding formal merger negotiations
- Official decisions by RAG-Stiftung concerning the sale of its 44 percent stake
confidence 90%Sources used for this update (4)
- en.wikipedia.org — History of Germany - Wikipedia
- simple.wikipedia.org — Germany - Simple English Wikipedia, the free encyclopedia
- www.germany.travel — Top Attractions and Insider Tips for your Holiday - Germany
- www.techtimes.com — Germany Coal Fund Drops Evonik Veto Floor, Opening Path to BASF Takeover - Tech Times
-
BASF Approaches Evonik for Potential Chemical Takeover
German chemical producer BASF has initiated exploratory talks regarding a potential takeover of smaller peer Evonik. The prospective deal could create an eighty-four billion dollar chemical giant. European chemical firms are restructuring to overcome rising energy costs and Asian competition, while simultaneously strengthening specialty chemicals portfolios. BASF has confirmed that it is holding these exploratory discussions with Evonik and RAG-Stiftung. However, the course and outcome of the negotiations remain open as the European chemical sector navigates a deep industry crisis.
Why it matters
European chemical companies face intense pressure from rising energy costs and fierce competition originating in Asia, driving corporate restructuring across the continent. BASF seeks to counter this Chinese competition and boost European growth by absorbing a smaller peer. The target of the approach, Evonik, operates as a specialty chemicals producer.
What is confirmed
- German multinational chemical company BASF has approached specialty chemicals producer Evonik about a potential takeover.
- BASF confirmed that it is holding exploratory talks regarding a potential takeover of Evonik and RAG-Stiftung.
Still unconfirmed
- The potential takeover talks could forge an eighty-four billion dollar chemical giant.
What to watch next
- Further official announcements from BASF or Evonik regarding the status of the takeover negotiations.
- Decisions from RAG-Stiftung concerning the potential transaction.
confidence 100%Sources used for this update (4)
- www.packaginginsights.com — BASF approaches Evonik over potential takeover, puts ...
- www.polyestertime.com — BASF Evonik Takeover Talks - Massive $84B Chemical Merger ...
- www.metissue.com — BASF approaches Evonik over potential takeover
- www.europesays.com — BASF approaches Evonik over potential takeover | MET Magazine
-
BASF Approaches Rival Evonik for Potential Takeover
German chemical producer BASF has confirmed that it is holding exploratory talks regarding a potential takeover of smaller peer Evonik and RAG-Stiftung. The prospective merger aims to strengthen BASF's specialty chemicals portfolio, boost European growth, and counter intense Chinese competition. While BASF acknowledges the discussions, the course and outcome of the negotiations remain open. The discussions come amid a deep industry crisis affecting the European chemical sector.
Why it matters
BASF and Evonik are both major German chemical producers operating within a challenging industrial environment. The potential combination would create a massive global chemicals giant by consolidating major European operations. Market participants and analysts continue to evaluate the strategic rationale of the tie-up as the companies engage in early-stage dialogues.
What is confirmed
- BASF SE confirmed it is holding exploratory talks with RAG-Stiftung and Evonik Industries AG regarding a potential takeover of Evonik.
- BASF stated that the course and outcome of the exploratory talks remain open at this stage.
Still unconfirmed
- A bid of €10.3 billion was rejected as part of the chemical giant consolidation process.
What to watch next
- Official updates from BASF or Evonik regarding the status of the exploratory merger talks
- Statements from RAG-Stiftung on potential transaction terms or decisions
confidence 100%Sources used for this update (20)
- Financial Times — BASF makes takeover approach for chemicals rival Evonik
- Bloomberg.com — BASF Made Merger Proposal to German Rival Evonik, Report Says
- Reuters — Germany's BASF approaches Evonik over potential takeover
- WSJ — Chemicals Giant BASF Moves for Rival Evonik
- Yahoo Finance — BASF proposes takeover of German chemical rival Evonik, Financial Times reports
- Investing.com — M&A market trends: BASF/Evonik, arb spreads, and tokenization deals this week
- chemindigest.com — BASF Approaches Evonik for Potential Global Chemicals Deal
- www.marketscreener.com — Evonik Industries AG : JP Morgan keeps a Sell rating
- www.marketscreener.com — Chemicals Giant BASF Moves for Rival Evonik -- Update
- www.bicmagazine.com — BASF approaches Evonik to create a global chemicals giant
- west.dairyindustryexpo.com — BASF Confirms Exploratory Talks for Potential Evonik Takeover - Dairy Industry Expo
- ca.marketscreener.com — Sources: BASF Sounds Out Evonik on Potential Deal - Shares Move Sharply | MarketScreener Canada
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community