BASF explores Evonik deal as BASF stock sits 9.93 percent below its high

Published on 10/02/2026 at 12:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BASF offers EUR 22.15 per Evonik share, valued at EUR 10.3 billion. BASF stock costs EUR 49.58 on October 2, 2026 after EUR 49.68.

Vogelperspektive auf Laborgeräte, Notizbuch mit Molekülskizzen, Pipetten und Periodensystem auf weißem Untergrund — Overhead-Flatlay auf weißer Laborfläche: präzise arrangierte Erlenmeyerkolben, farbcodierte Pipetten, Petrischalen, ein aufgeschlagenes Labornotizbuch mit Molekülzeichnungen und Periodensystemkarte, ein Feinminenstift und Glasperlen. Gleichmäßiges Studiolichjt ohne Schatten. Im Notizbuch steht der Schriftzug CHEMISTRY. Minimalistisch, hochklar, Illustration mit AI erstellt.

BASF (ISIN DE000BASF111) was trading at EUR 49.58 at Lang & Schwarz on October 2, 2026 at 12:05 p.m. CEST, 9.93 percent below its EUR 55.05 52-week high. According to BASF on September 25, 2026, the company confirmed discussions with the RAG Foundation and Evonik about a possible takeover.

Evonik talks set the tone

The proposed transaction has a headline value of EUR 10.3 billion and values each Evonik share at EUR 22.15, according to wallstreetONLINE on September 29, 2026. Evonik rejected the offer as too low and declined formal talks and due diligence, leaving BASF with a strategic proposal that has yet to become a transaction.

The deal would add portfolio scale, but the response from Evonik places valuation and execution at the center of the story. BASF's own investor page says the course and outcome of the discussions remain open, so the takeover cannot yet be treated as an earnings contribution.

Second-quarter figures raised guidance

BASF generated EUR 17.2 billion in revenue in the second quarter of 2026, up 16.00 percent from the prior-year quarter, while EBITDA before special items reached EUR 2.4 billion versus EUR 2.1 billion expected, Borse Global reported on September 3, 2026.

The same report said BASF lifted its 2026 EBITDA-before-special-items guidance to EUR 6.9 billion to EUR 7.7 billion from EUR 6.2 billion to EUR 7.0 billion. That comparison gives investors a clearer operating benchmark than the Evonik discussions, because the guidance range directly affects the current-year earnings frame.

Analysts split near EUR 56

Analyst opinion is divided despite the higher outlook. finanzen.ch reported on September 30, 2026 that three of four analysts rated BASF a Buy, while one issued a Sell view, producing an average target of EUR 56.00.

That average target is EUR 6.42 above the Lang & Schwarz price, equivalent to 12.95 percent above EUR 49.58. The spread matters because the target range runs from EUR 40.00 for JPMorgan to EUR 61.00 for Bernstein, showing that the strategic opportunity and execution risk are being priced very differently.

Results date adds a near-term test

BASF is scheduled to publish its third-quarter 2026 quarterly communication on October 28, 2026, according to Stock-World. The release will give the market a direct test of whether the second-quarter price and volume gains are continuing before the Evonik talks produce a definitive outcome.

BASF stock stays below its yearly high

The Lang & Schwarz quote stood at EUR 49.58 on October 2, 2026 at 12:05 p.m. CEST, down EUR 0.10 or 0.20 percent versus the prior close of EUR 49.68. The 52-week range was EUR 41.48 to EUR 55.05, while market capitalization stood at EUR 42.8 billion on the same date.

The further course of trading is shown by the continuously updated real-time quote of BASF stock.