Evonik's November Scorecard: Dental Resins, Japanese Recycling, and Two Unsettled Deals
Published on 10/26/2026 at 15:11 | Editorial boerse-global.de
Evonik has spent October rolling out products and partnerships on a steady drumbeat, yet the market's attention keeps drifting back to a pair of transactions that may never happen. The specialty chemicals maker launched two new PEEK grades for dental prosthetics on 20 October, introduced a rumen-stable lysine solution a day earlier, and kicked off a polyurethane foam recycling initiative in Japan on 13 October. None of those moves settles the bigger question hanging over the stock: whether BASF buys Evonik, whether Evonik buys Ashland, or neither.
A Product Pipeline That Is Already Delivering
The two new VESTAKEEP PEEK grades, designated DC4760 and DC4780, are aimed at long-term dental prostheses. They represent a completed commercial step rather than a plan. The same holds for Lypron, the rumen-stable lysine solution unveiled on 19 October, which slots into Evonik's amino-acid balancing concept for ruminant nutrition.
Alongside the product news, Evonik began working with Toyotsu Chemiplas and Sanyo Chemical on 13 October on chemical recycling of polyurethane foam in Japan. The company is contributing its hydrolysis-based recycling process. The stated goal is to derive recycled polyols and amines from waste material for use in new polyurethane products — the initiative has started, though the recovery and reuse of materials remains a target rather than an accomplished fact.
What the Deal Talk Actually Says
The takeover chatter comes in two distinct strands, and neither is signed. Reuters reported on Friday, citing two insiders, that BASF had raised its offer to 24 euros per Evonik share, valuing the company at roughly 11.18 billion euros. Handelsblatt characterised the proposal as an all-cash bid and described the outcome of talks as open. Neither company has commented officially.
Should investors sell immediately? Or is it worth buying Evonik?
Job guarantees have surfaced as part of the discussion. BASF chief executive Markus Kamieth said on Thursday that his company would honour existing site agreements in the event of a takeover, with compulsory redundancies ruled out until 2032.
Separately, Evonik itself is looking at buying. Handelsblatt reported on Friday that the company has been examining a larger US acquisition for some time, with Ashland a particular focus. Reuters reported on Thursday that Evonik is among several interested parties and that the review is at an early stage. Evonik declined to comment, stating that it does not generally respond to market rumours.
Two Kinds of Commitment, Two Different Yardsticks
The distinction investors need to hold onto is one of certainty. The dental grades, the lysine launch and the Japanese recycling collaboration have happened. An Ashland purchase and a BASF takeover remain contingent possibilities, and the reported terms of the latter describe a conditional transaction value rather than an agreed sale.
That gap in status matters for how the equity is valued. A possible offer frames a price for the whole company; business results measure the company on its own terms. Both can shape the share price, but they do not carry the same weight.
Evonik at a turning point? This analysis reveals what investors need to know now.
The Next Hard Date
Evonik has scheduled third-quarter 2026 results for 3 November 2026, giving investors a fresh read on operating performance. The quarterly report concerns Evonik's own business development and says nothing about which strategic option will be pursued — an announced earnings date confirms neither a change of ownership nor an acquisition.
For now, the confirmed activities and the scheduled figures form one side of the ledger. The conditional takeover scenarios form the other. The November release sets the next fixed appointment for judging the business itself, while the deal questions stay exactly where they have been: unresolved.
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