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Evonik rallies on media report of BASF's merger proposal

By Reuters News11:46 (UTC), 25 September 2026 Updated

** Evonik EVKn.DE shares rise about 7% after a Financial Times report that BASF BASFn.DE has made a merger proposal to the German specialty chemicals maker and its largest shareholder

**The stock had already gained earlier this week on reports that BASF was exploring a potential transaction involving Evonik

** Evonik spokesperson declines to comment on the report but a source familiar with the matter says Evonik is not aware of the approach

** Including Friday's advance, Evonik shares have risen about 48% year-to-date

** BASF shares fall 2.3%

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