Evonik Industries AG announced on October 30, 2026 that it will not pursue takeover discussions with BASF SE and will maintain its independence after reviewing a potential acquisition proposal.
The executive board examined a letter from BASF dated October 22 that expressed interest in making a voluntary public takeover offer. BASF had increased its proposed valuation of Evonik to more than €11 billion, up from an earlier valuation of around €10.3 billion.
The revised proposal reportedly included commitments to preserve existing jobs and maintain key production sites, with BASF pledging to honor Evonik's existing job guarantees through 2032.
After careful review, the board decided against formal negotiations and confirmed its commitment to Evonik's current strategic direction as an independent business.
