Germany's BASF approaches Evonik to create global chemicals giant

Live updates

1. 1h ago

   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
   Sources used for this update (20)

   1. Financial Times — BASF makes takeover approach for chemicals rival Evonik
   2. Bloomberg.com — BASF Made Merger Proposal to German Rival Evonik, Report Says
   3. Reuters — Germany's BASF approaches Evonik over potential takeover
   4. WSJ — Chemicals Giant BASF Moves for Rival Evonik
   5. Yahoo Finance — BASF proposes takeover of German chemical rival Evonik, Financial Times reports
   6. Investing.com — M&A market trends: BASF/Evonik, arb spreads, and tokenization deals this week
   7. chemindigest.com — BASF Approaches Evonik for Potential Global Chemicals Deal
   8. www.marketscreener.com — Evonik Industries AG : JP Morgan keeps a Sell rating
   9. www.marketscreener.com — Chemicals Giant BASF Moves for Rival Evonik -- Update
   10. www.bicmagazine.com — BASF approaches Evonik to create a global chemicals giant
   11. west.dairyindustryexpo.com — BASF Confirms Exploratory Talks for Potential Evonik Takeover - Dairy Industry Expo
   12. ca.marketscreener.com — Sources: BASF Sounds Out Evonik on Potential Deal - Shares Move Sharply | MarketScreener Canada
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