Evonik rejects BASF offer as too low, sources say

By Reuters News

- German chemicals maker Evonik EVKn.DE has rejected a takeover offer of about €22.15 per share from larger peer BASF BASFn.DE as too low, two people familiar with the matter told Reuters on Monday.

The Financial Times had earlier reported the news.

BASF, which said on Friday it had proposed a potential acquisition of Evonik, on Monday declined to comment on the size of the offer.

Evonik declined to comment.

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk