Germany · Story · Companies
BASF's pursuit of Evonik amid job cuts
Evonik plans to cut 3,200 jobs while BASF seeks to acquire the company, raising its offer to over €11 billion amid ongoing negotiations.
No new coverage since 23 October 2026.
The story so far as of 23 October 2026
On 22 September, Evonik Industries AG announced plans to cut 3,200 jobs in Germany as part of a restructuring strategy. On 25 September, BASF expressed interest in acquiring Evonik, which led to an 11% rise in Evonik's stock. On 7 October, BASF confirmed ongoing negotiations despite Evonik's rejection of the latest offer. On 23 October, BASF raised its takeover offer for Evonik to over €11 billion, offering job guarantees to Evonik's shareholders and employees.
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Coverage, day by day
- Companies
BASF raises Evonik takeover offer to over €11 billion
Impact Chemical sector investors and employees face changes as BASF raises its offer for Evonik, aiming for a major industry consolidation.
Sources: Handelsblatt ↗, Frankfurter Allgemeine ↗
- Companies
BASF seeks to acquire Evonik amid industry crisis
Impact Chemical industry stakeholders monitor BASF's acquisition attempt as it could reshape market dynamics and competitive landscapes.
Sources: Sueddeutsche.de ↗
- Companies
BASF considers acquiring Evonik
Impact Investors in Evonik see stock value increase; BASF's potential acquisition may reshape the chemical industry.
Sources: Handelsblatt ↗, ZEIT ↗, DIE WELT ↗, Frankfurter Allgemeine ↗
- Companies
Evonik to cut 3,200 jobs in Germany
Impact Employers in the manufacturing sector face workforce reductions, affecting 3,200 positions.
Sources: Handelsblatt ↗, DIE WELT ↗
Sources in this story
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