9/102 sources · 2 publishersUpdated Oct 23, 11:56 UTC
BASF reportedly raises takeover bid for Evonik to €11 billion
BASF is said to have increased its offer for Evonik Industries to more than €11 billion, valuing the target at about €24 per share. Evonik's shares jumped 5.2% on the news. The proposal includes job guarantees for Evonik employees through 2032. Neither company confirmed the details.
Why it matters
The higher bid lifts Evonik's implied valuation, which could affect investors' exposure to the German chemicals sector. If the deal proceeds, shareholders may receive a premium and the combined entity could realize synergies.
Key facts
- 1Evonik shares rose 5.2% after the report investing.com
- 2BASF’s revised offer totals over €11 billion investing.com
- 3The offer values Evonik at roughly €24 per share investing.com
- 4Evonik’s market capitalisation was €9.7 billion at the time investing.com
- 5The proposal includes job guarantees for Evonik staff through 2032 investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.