BASF is said to be interested in taking over Evonik

The Ludwigshafen-based chemical company BASF is said to have made a takeover proposal to Evonik and its largest shareholder. So far, no one has been able to officially confirm the process. The news still sends Evonik shares up sharply.

According to a report in the Financial Times, chemical giant BASF is interested in taking over competitor Evonik. BASF recently made a corresponding proposal to the Essen-based company and its largest shareholder, the RAG coal foundation, the paper reported, citing insiders. BASF is in contact with banks regarding a possible transaction and is continuing to work on it.

The Ludwigshafen-based company wants to deepen its global footprint and portfolio by taking over Evonik in order to better compete in the difficult industry environment, the newspaper reported, citing informed circles.

Evonik and the RAG Foundation did not want to comment on the report. A person familiar with the matter told Reuters that Evonik had not received a takeover offer from the BASF Group. BASF simply said: "As a general rule, we do not comment on market rumors or speculation." Evonik's anchor shareholder is the Essen-based RAG Foundation, which holds around 43 percent of the shares. However, it wants to reduce its dependence on the chemical industry and has declared that it wants to reduce its share to 25.1 percent in the future.

The takeover speculation gave Evonik shares a real boost at midday. With an 11 percent increase to just over 20 euros, they reached their highest level since May 2025. BASF shares corrected by more than 3 percent to their 100-day line. The magazine “Dealreporter” had already reported on BASF’s alleged interest in Evonik on Tuesday. Since then, Evonik shares have gradually recovered, now with strong momentum.