-+ 0.00%
-+ 0.00%
-+ 0.00%

BASF to Honor Evonik's Job Guarantees Amid Planned Takeover

MT Newswires·10/22/2026 11:40:28
Listen to the news
11:40 AM EDT, 10/22/2026 (MT Newswires) -- BASF (BAS.F) intends to fully honor the existing job agreements of Evonik Industries (EVK.F) employees if it completes the planned takeover of its rival. BASF Chief Executive Officer Markus Kamieth said in a Thursday video call that the German chemicals group will continue to rule out compulsory redundancies until 2032, as well as preserve Evonik's collective bargaining agreements and social partnerships, while continuing to invest in training young people. In September, Evonik rejected BASF's takeover offer of 10.3 billion euros, or 22.15 euros per share, because it was too low, according to media reports.