BASF increases takeover bid for Evonik to over €11 billion after rejection of earlier offer

BASF has increased its takeover bid for German chemicals rival Evonik to about €24 a share, up from €22.15, valuing the company at roughly €11.2 billion, after Evonik's board rejected the earlier €10.3bn offer. The improved proposal adds job and site guarantees, with Evonik's Essen headquarters to remain a significant location for the combined entity. A BASF spokesperson declined to comment.

Detected & updated continuously · Source: Nebula