BASF Keeps Deal Pipeline Moving as Evonik Rebuffs €11.2 Billion Approach
Published on 11/10/2026 at 06:01 | Editorial boerse-global.de
BASF's pursuit of Evonik has hit a familiar roadblock, but the chemicals giant is not standing still elsewhere. Talks between the chief executives and finance chiefs of the two companies took place on Saturday, yet no further meetings are currently scheduled, according to Reuters, which cited two people familiar with the matter.
Evonik is holding firm to its rejection of BASF's improved offer, an insider told the news agency. The bid values Evonik at €24 per share, or roughly €11.2 billion in total. Evonik had already turned down the sweetened proposal about two weeks ago, stating it would not enter negotiations.
Buyback and share price
Away from the negotiating table, BASF repurchased around 352,000 of its own shares last week as part of its buyback programme, with the purchases spanning Monday through Friday. Following that week of buying, the stock was quoted at €54.02.
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Portfolio reshuffle in Chile
On the divestment front, ALTA Performance Materials signed a contract with BASF on Friday to acquire the Palatal business in Chile. BASF framed the agreed sale as part of its push to concentrate on its chemical core operations.
New production site in Nanjing
BASF also signed an investment agreement on 3 November with Nanjing Jiangbei New Area to build a new production facility for electronic materials. According to the company, the site will be located in the Materials High-Tech Park.
Sun care and cosmetics partnerships
The same day, BASF and ParagonCorp put pen to paper on a letter of intent to explore a possible collaboration in scientifically grounded cosmetic innovation. Separately, BASF and S&J International Enterprises announced today that they had signed a letter of intent to examine a strategic partnership in the sun care segment.
Guidance lifted
Roughly two weeks ago, BASF raised its adjusted EBITDA forecast for the full year 2026 to a range of €7.4 billion to €7.8 billion, up from a previous outlook of €6.9 billion to €7.7 billion.
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