Evonik Rejects €10.3 Billion Takeover Bid from BASF

Key Facts

German chemical rival Evonik rejected a €10.3 billion takeover bid from BASF. The Financial Times reported that the rejection marks a significant hurdle in BASF's attempt to consolidate the German chemical sector through a multi-billion euro deal.

The decision follows several days of market reaction to the acquisition approach. Within the broader German industrial context, data from September 23, 2026, showed the German Manufacturing PMI at 53.8, highlighting the operational environment for the two companies as BASF pursued the consolidation effort.