Evonik Shares Gain 2.7%; BASF Confirmed Exploratory Talks.
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BASF’s latest proposed price for Evonik is about €24 a share, implying a valuation of $12.51 billion. Neither BASF nor Evonik has announced a revised price. Evonik shares ended Oct. 23 at €21.26, up 2.7%. At 8:08 a.m. ET (12:08 UTC) that day, they were at €21.38, up 3.3%. On Sept. 25, BASF described exploratory discussions with Evonik and RAG-Stiftung about a possible takeover, saying the course and outcome remained open. Evonik confirmed receiving a nonbinding approach for a voluntary public offer covering all its shares, but said no talks were underway at the time. Separately, on Oct.
Source: TokenPost
