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Evonik set to reject BASF's sweetened €11 billion bid, FT reports 

By Reuters News

Oct 29 (Reuters) - Chemicals firm Evonik is set to reject BASF's sweetened €11 billion takeover bid as too low, the Financial Times reported on Thursday, citing people familiar with the matter.

Evonik considers BASF's bid from last week of €24 per share as undervaluing the company and could make a statement to that effect in the coming days, the report added.

Reuters could not immediately verify this report.

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