BASF SE has made a non-binding approach to Evonik Industries AG regarding a potential takeover, a development confirmed by both companies on September 25, 2026. This comes after media reports, including one from the Financial Times, suggested BASF had approached Evonik and its largest shareholder, the RAG-Stiftung, about a merger. Evonik's Executive Board confirmed receiving the non-binding offer for all of its shares but stated that no talks are currently taking place.
BASF, the world's largest chemical company, with sales of approximately €60 billion in 2025 and a market capitalization of around €47 billion, is actively evaluating strategic acquisitions to strengthen its core businesses. A takeover of Evonik, which has a market capitalization of roughly €8.4 billion, would create a combined entity with a turnover of €74 billion based on last year's figures. This consolidation is seen as a strategic move to better compete with American and Chinese rivals like Dow and Sinopec, especially given the pressures of high energy costs and Chinese overcapacity in the European chemical sector.
Evonik's shares saw an 8% rise on the Frankfurt Stock Exchange following the news, while BASF's shares declined by 2%. The RAG-Stiftung holds a 44% stake in Evonik. Both companies have maintained that the course and outcome of these exploratory discussions remain uncertain. Evonik has also recently announced plans to cut 3,200 jobs, including 2,150 in Germany, to free up funds for investment in growth markets and withdraw from less promising activities.
