BASF stock hits Evonik hurdle as talks end without next meeting
Published on 11/11/2026 at 10:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEvonik takeover resistance persists
- Evonik rejected BASF's increased takeover approach after preliminary weekend discussions.
- The two companies have not scheduled another meeting or entered formal negotiations.
- BASF's offer follows an earlier rejected proposal and remains central to the stock's strategic outlook.
Evonik remains opposed to BASF's increased takeover approach after senior executives from both companies held preliminary talks over the weekend. Reuters, carried by Euronext, reported the development on Monday, November 9, citing a person familiar with the matter.
Evonik keeps takeover resistance
The talks involved the chief executives and chief financial officers of BASF and Evonik and were intended to discuss BASF's proposal. The meeting did not change Evonik's position: The specialty chemicals group continues to reject the increased approach, and no further meetings are currently scheduled.
Evonik had already opposed the improved proposal in October, arguing that it was insufficient to begin formal takeover negotiations. The latest discussions therefore did not produce a formal deal process. Both companies declined to comment on the reported outcome.
Higher bid still faces hurdles
BASF's improved indication values Evonik at 24 euros per share and 11.18 billion euros in total. Evonik had rejected BASF's initial 22.15-euro-per-share proposal in September. The difference between the two offers shows that BASF has raised its financial terms, but the higher price has not secured Evonik's agreement to enter formal talks.
According to the Reuters report, Evonik used the weekend meeting to argue that it was better positioned within its own planned corporate structure. The company is therefore keeping the focus on its independent strategy and restructuring rather than moving toward a negotiated combination.
Strategic rationale meets execution risk
For BASF, the stalled dialogue leaves the proposed combination as a strategic option rather than an advancing transaction. CEO Markus Kamieth has described a combination as a strong German response to global competition. BASF has also said it would honor Evonik's existing site agreements and preserve jobs in the event of an acquisition.
Investors must now weigh the potential strategic benefits against the uncertainty over timing, transaction terms and execution. With no next meeting scheduled, the takeover case is likely to remain dependent on further statements from the companies or a new approach from BASF.
On Wednesday, November 11, BASF stock traded at 54.62 euros on Xetra at 09:53 CET, 0.15% above the Xetra close of Tuesday, November 10, at 54.54 euros.
BASF stock at a glance
- Company: BASF SE
- ISIN: DE000BASF111
- Xetra ticker: BAS.DE
- Latest Xetra price: 54.62 euros at 09:53 CET on Wednesday, November 11, 2026
- Change: 0.15% above the Xetra close of Tuesday, November 10, 2026
- Reference Xetra close: 54.54 euros
German equities traded within the broader DAX market environment as investors assessed company-specific developments.
