Home / Business and Economy / BASF Boosts Evonik Offer to €11 Billion
BASF Boosts Evonik Offer to €11 Billion
23 Oct
Summary
- BASF has raised its acquisition offer for Evonik.
- The revised bid values Evonik at over €11 billion.
- The new offer includes job and site guarantees.
Germany-based BASF has significantly enhanced its takeover offer for fellow chemicals manufacturer Evonik Industries. The latest bid, reported to be over €11 billion, represents a substantial increase as BASF seeks to acquire Evonik.
The revised offer is understood to be around €24 per share. Importantly, this enhanced proposal comes with explicit guarantees concerning job security for employees and the ongoing operations of Evonik's production facilities, addressing key concerns for stakeholders.
This development signals a determined effort by BASF to finalize the acquisition. Reuters could not immediately verify the specifics of the report.
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