Update: Market Chatter: Evonik Reportedly Rejects BASF's Takeover Proposal

02:00 AM EDT, 09/29/2026 (MT Newswires) -- (Updates with BASF and Evonik's statements) Evonik Industries (EVK.F) rejected fellow German chemicals company BASF's (BAS.F) 22.15 euros per share takeover proposal, London's Financial Times reported Monday, citing people familiar with the matter. The target company reportedly found the current bid price to be too low to open its books for due diligence or to kickstart formal talks. BASF confirmed exploratory discussions Sept. 25. BASF told MT Newswires its "assessment assumes a synergy potential, which can only be validated with the engagement of Evonik" but that it does not comment on price. An Evonik representative told MT Newswires that it has nothing to add to its statement issued Sept. 25 in response to a request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)