Evonik Rejects BASF’s $12.5B Takeover Bid but Leaves Opening for 'Purely Informational' Talks

Reformatorisch Dagblad

welingelichtekringen.nl

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dagelijksestandaard.nl

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The German chemical group Evonik Industries has rejected a new takeover bid from its larger German counterpart. BASF offered 11.2 billion euros for Evonik. Evonik says it wants to focus on its strategy as an independent company.

Globo

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The German chemical group Evonik stated on Friday (30) that the revised purchase offer made by Basf was not enough to convince him to start formal negotiations on the business, but asked the administration of the interested party to detail the logic of its proposal. The executive board continues to focus on its strategic orientation and on the development of Evonik as an independent company, said in a statement. According to one person on the su…

RP Online

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The Evonik Board of Management rejects the eleven billion euros takeover offer, but is prepared for an "informal exchange". BASF calls the procedure in Essen "incomprehensible". That's how it goes on.

Sueddeutsche Zeitung

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It would be one of the biggest acquisitions in the history of the chemical industry, but Evonik does not want to negotiate.