BASF Pairs Evonik Job Guarantees With Buyback Discipline as Q3 Date Set

BASF has moved to shape the terms of any eventual Evonik takeover, with chief executive Markus Kamieth pledging in a video message today that compulsory redundancies would be ruled out until 2032 in the event of a combination. The commitment, reported by Handelsblatt, would carry over existing site agreements and collective bargaining contracts — but the group was quick to stress that it is not chasing a deal at any price.

The pledge applies specifically to the scenario of an acquisition, not to the consequences of a completed merger, and should therefore be read as part of the takeover plans rather than as a signal that a transaction is imminent. For shareholders, the message cuts both ways: concrete safeguards for the workforce sit alongside management's explicit caveat that it will walk away if the numbers do not stack up.

Evonik's Own Ambitions Predate BASF's Approach

Running in parallel, Evonik is reportedly examining a possible acquisition of US chemicals group Ashland, according to Reuters, citing Handelsblatt. That review began before BASF's interest in Evonik emerged and is not a defensive manoeuvre, the report said — a timing detail that matters for how the market reads the situation. Even so, it remains just that: a review, not an agreed deal.

Buyback Already in Motion

While the strategic pieces are still being moved around the board, BASF's capital returns are already delivering. On Monday the company reported the purchase of 451,622 of its own shares in the preceding trading week. Since the programme began on 3 August, BASF has bought back 6,497,911 shares up to and including 16 October, according to the mandatory disclosure.

That distinction — executed transactions versus stated intentions — is the thread running through this week's news flow. The buyback is done and dusted; the expansion and cooperation plans are not.

Taiwan Pact and a Nylon Venture on the Table

On Tuesday, BASF signed a letter of intent with Taiwan's Ministry of Economic Affairs to expand its Kuanyin site in Taoyuan. The plan covers additional capacity for semiconductor materials, upgraded quality analytics and a larger innovation centre, with the investment intended to support technologies below 2 nanometres.

A day earlier, BASF announced it was reviewing a joint venture with Highsun Holding Group. The two companies may combine their European activities along the polyamide-6 value chain into a 50:50 joint venture, and are also examining the inclusion of worldwide extrusion operations outside North America. The Highsun agreement is expressly non-binding and should not be treated as a completed merger.

Cracker Outage Adds an Operational Wrinkle

Operations, too, have intruded on the agenda. BASF reported on Saturday a production interruption at the steam cracker in Ludwigshafen caused by a technical defect. Excess gas was burned off via a flare, and the safety systems responded as intended, according to the company.

October 28 as the Common Denominator

All of these strands converge on a single date: BASF will publish its quarterly statement for the third quarter of 2026 on 28 October 2026, with results presented at a press conference the same day. That disclosure will be the first hard test of operating performance, and the key for investors will be to keep reported figures separate from the potential effects of ventures that remain unsigned.