Speculation of BASF interest lifts Evonik shares as takeover talks swirl

Media reports indicate that BASF is in talks about acquiring Evonik, aiming to expand its worldwide presence and deepen its product range to better weather current industry challenges. The speculation caused Evonik’s stock to rise to a peak not seen since mid-2025, whereas BASF’s shares dropped later in the day. Both companies refrained from commenting, with BASF stating it does not discuss market rumours and Evonik and RAG-Stiftung offering no response.

RAG-Stiftung, which holds a large stake in Evonik, has previously said it intends to reduce its shareholding over time. The potential merger could consolidate the fragmented European chemicals sector, creating a combined annual turnover of roughly the same scale as the two firms together. Evonik is also undergoing a restructuring that includes significant job reductions, while BASF has been cutting jobs globally to control costs.