BASF would commit to preserving Evoniku2019s German site and employment guarantees in any takeover of the specialty chemicals maker, two people close to BASF said. The commitments rule out compulsory redundancies in Germany until 2032 and require any job cuts to be voluntary with severance pay. u201cBASF feels bound by this. They would not waver on this,u201d one source said. Evonik rejected an initial bid of u20ac10.3 billion, or u20ac22.15 per share, as too low. BASF could raise its offer if talks between the two companies occurred.
Source: Reuters / MarketScreener
