BASF could raise its offer for Evonik if there were talks between the two companies, two people close to BASF told Reuters. Evonik said in September that BASF had approached it over a possible takeover. People close to the talks later said Evonik had rejected a bid of u20ac10.3 billion, or u20ac22.15 per share, as too low. The RAG Foundation, Evoniku2019s largest shareholder with 43%, discussed the offer but did not want to make a decision over the management boardu2019s head. The foundation had previously announced it would reduce its stake in Evonik to 25.1%.
Source: Reuters / MarketScreener
