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Evonik has once again rejected BASF's €11 billion offer

მარიამ ქადარიაNovember 10, 20261 min read
Evonik has once again rejected BASF's €11 billion offer

German chemical company Evonik still does not agree to a merger with competitor BASF. The meeting of the companies' executives over the weekend ended without result, and new negotiations are not yet scheduled.

In October, BASF raised its offer to up to €11.18 billion, which amounts to €24 per Evonik share. The company had also rejected a lower offer submitted in September.

BASF is one of the world's largest chemical companies, while Evonik produces specialty chemical products. BASF's management believes that a merger would strengthen both companies' international competitiveness.

Evonik, however, prefers to continue operating independently. Neither side has made an official comment on the results of the meeting.

Source: Reuters

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