Overview
- Evonik confirmed it received an unsolicited public takeover approach from BASF on Friday and said formal negotiations are not taking place at present.
- The RAG‑Stiftung, which holds about 43 percent of Evonik, said it was approached and would be pivotal to any deal.
- Markets reacted sharply with Evonik shares rising double digits while BASF shares fell, reflecting investor bets and risk to BASF's stock.
- Press estimates put Evonik's market value near €8.4–9.1 billion and its enterprise value around €12 billion, implying any purchase would require a substantial takeover premium.
- BASF has been working with banks this year to test financing options, but analysts warn operational integration, Evonik's ongoing restructuring and shareholder approval make a binding offer uncertain.