BASF Puts €11 Billion Evonik Bid on Ice as Green Polyisobutene Shift and Buyback Roll On
Published on 11/10/2026 at 19:31 | Editorial boerse-global.de
BASF's pursuit of Evonik has run into a brick wall, with the specialty chemicals maker holding firm to its rejection even after the two sides took the conversation to the very top of both companies. According to Reuters, Evonik turned down BASF's offer once more following discussions at executive board level. The approach had valued Evonik at more than EUR 11 billion, based on a bid of EUR 24 per share.
The weekend encounter, reported by dpa-AFX, brought together the chief executives and finance chiefs of both groups. Talks broke up without negotiations getting underway. Reuters, citing two people familiar with the matter, had reported the meeting a day earlier.
Berenberg Sticks With Hold After New York Event
Separately, Berenberg left its rating on BASF at "Hold" today following an investor event in New York, reaffirming a price target of EUR 51.50. The stock was trading at EUR 54.42 in the session, up 0.8% — above the level the bank has pencilled in as fair value. Earlier in the day, shares had shown a pre-market gain of 0.7%.
Green Power for Polyisobutene
On the operations front, BASF is switching the European polyisobutene portfolio it makes for external customers to electricity from renewable sources. The company said today that the full conversion of its Oppanol B and Glissopal products should be wrapped up by January 2027. The change covers the European portfolio destined for outside clients.
Should investors sell immediately? Or is it worth buying BASF?
Nanjing Electronics Site Under Agreement
BASF also signed an investment agreement with the Nanjing Jiangbei New Area on 3 November covering electronic materials. The deal provides for the construction of a production site in Nanjing.
Buyback Presses Ahead
The Ludwigshafen group reported the purchase of roughly 352,000 of its own shares in the past week, according to yesterday's interim report on the buyback programme, which covers purchases made from 2 to 6 November inclusive. Since the programme began on 3 August, BASF has repurchased a total of about 7.95 million shares, a figure reflecting the position through last Friday.
Legal Posting Filled
Soeren Bauermann took charge of Corporate Legal, Compliance, Insurance & Security at BASF on 1 November, the company said. His remit spans legal affairs, compliance, insurance and security.
BASF at a turning point? This analysis reveals what investors need to know now.
Investors will get their next look at the company's figures on 26 February 2027, when BASF has said it will publish its 2026 annual report.
Ad
BASF Stock: New Analysis - 10 November
Fresh BASF information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
