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FT: Evonik rebuffs BASF's €10.3 billion bid; confirms approach, no talks

Cierra Seay
Published Sep 28, 2026
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Summary:
  • Financial Times reported Evonik turned down a €10.3 billion ($11.7 billion) offer from BASF.
  • Evonik acknowledged on Friday that it had been approached and said no talks are taking place; the company said it would not discuss the FT story.
  • BASF said a deal "would strengthen and complement BASF's core businesses," noted discipline on strategy and that synergies require Evonik's engagement.

What was on the table

BASF floated an offer valuing Evonik at €10.3 billion, or $11.7 billion, according to the Financial Times. The paper reported Monday that the bid was considered too low to proceed into formal talks or allow due diligence, citing people it did not name.

What each side is saying

Evonik, based in Essen, acknowledged on Friday that BASF had reached out and said there are no discussions underway. A representative for Evonik said the company would not comment on the FT report.

BASF would not discuss the price. A spokesperson said a transaction "would strengthen and complement BASF's core businesses and we would be disciplined in our approach," adding that any synergies "can only be validated with the engagement of Evonik." In a separate Friday statement, BASF also said "the course and outcome of these exploratory talks remain open at this stage."

Big corporate decisions can reshape opportunities, so steady planning protects your savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.

What could come next

Bloomberg News said, citing people familiar with the matter, that BASF has spent several months consulting advisers while it evaluates a potential deal. Buying its German rival would expand BASF's portfolio with more specialty products. For now, BASF says the process is still exploratory and unresolved.

Why it matters for your money

If a tie-up eventually happens, it could reshape parts of Europe's chemicals landscape and ripple into prices across products you touch every day, from additives to coatings. Until then, the headline is simple: big, strategic deals are being explored, and they take time to play out.

Staying calm and informed helps you grow and safeguard your long term wealth. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.

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