Evonik Declines Negotiations on BASF’s €11.2 Billion Offer

Evonik Industries, Germany’s second-largest chemical maker, will not enter negotiations with BASF over a proposed acquisition valued at about $12.5 billion and covering all its shares. The approach was nonbinding. Evonik had previously acknowledged receiving a proposal for a voluntary public offer for its entire shareholding. On Sept. 25, BASF described exploratory discussions with Evonik and RAG-Stiftung , saying the process and outcome remained open. Evonik said negotiations were not underway at that time. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost