Overview
- Evonik rejected BASF's unsolicited, unbinding approach on Monday after reports that BASF offered roughly €22.15 per share.
- The reported price implied a roughly 28 percent premium and valued Evonik at about €14 billion.
- BASF says any deal is driven by cost and business synergies that can only be verified with Evonik's active cooperation.
- The RAG-Stiftung, which owns about 44 percent of Evonik, plus the IGBCE union and North Rhine-Westphalia officials, have stressed that any outcome must secure investments, sites and jobs.
- Evonik's shares rose about 2.5 percent after the news, negotiations have not been confirmed as continuing, and regulators and local stakeholders remain key obstacles to any possible takeover.