German chemicals giant BASF has approached Evonik with a potential takeover, offering around €22.15 per share and valuing the company at approximately €10.3 billion. Evonik rejected the proposal as too low, according to Reuters sources. The potential combination comes as Europe’s chemical industry struggles with high energy costs, weak demand and increasingly strong competition from Asian producers.
https://www.reuters.com/business/evonik-rejects-117-billion-basf-takeover-bid-ft-reports-2026-09-28