The RAG Foundation, Evoniku2019s largest shareholder with a 43% stake, discussed BASFu2019s takeover offer for Evonik but does not want to make a decision over the management boardu2019s head. The coal foundation, which must generate funds to cover costs arising from hard-coal mining, had previously announced it would reduce its stake in Evonik to 25.1%. Evoniku2019s management board rejected BASFu2019s initial offer of u20ac22.15 per share as too low.
Source: Reuters / MarketScreener
