BASF has confirmed that it is holding exploratory talks with RAG-Stiftung and Evonik Industries AG regarding a potential takeover of Evonik, marking a significant development in Germany’s chemicals industry. The announcement was made by BASF on September 25, 2026, following reports that the German chemicals giant had approached Evonik over a possible acquisition. BASF stressed that the course and outcome of the discussions remain open at this stage.
According to BASF, the discussions involve both Evonik and RAG-Stiftung, which is a major shareholder of Evonik. The company has not disclosed financial details of any potential transaction, including a possible offer price or the structure of a takeover. The confirmation therefore represents an early stage of discussions rather than a completed agreement or formal takeover announcement.
BASF said that, as part of its corporate strategy, it continuously evaluates acquisitions that can strengthen its core businesses, provide a strong strategic fit, support profitable growth and create value. The company also emphasized that it follows a disciplined approach when considering potential acquisitions.
Potential Strategic Significance
A combination of BASF and Evonik would bring together two major German chemical companies with extensive international operations and diversified product portfolios. Evonik operates across specialty chemicals markets, while BASF has businesses spanning chemicals, materials, industrial solutions, nutrition and care, as well as standalone agricultural and surface technologies operations.
The potential transaction comes as European chemical producers continue to adjust their portfolios and cost structures amid challenging global market conditions. Reuters reported that the possible takeover could strengthen BASF’s portfolio as European chemical companies face increasing competition from China.
BASF itself generated approximately €60 billion in sales in 2025 and employs around 95,000 people globally, according to its latest corporate information. The company has been pursuing strategic changes across its businesses, including preparations to make Agricultural Solutions a standalone business.
Market Reaction
News of the potential transaction immediately attracted attention from financial markets. Reuters reported that Evonik shares rose 7.6% following reports of the takeover approach, while BASF shares declined 3.4% during trading on September 25. Market movements reflect investor reaction to the possibility of a major corporate transaction, rather than confirmation that a deal will be completed.
The discussions could also attract regulatory attention if they progress toward a formal transaction. A deal involving major chemical businesses in Europe and international markets would potentially require regulatory review before completion.
| Key Detail | Information |
|---|---|
| Companies involved | BASF, Evonik Industries AG |
| Shareholder involved | RAG-Stiftung |
| Announcement date | September 25, 2026 |
| Transaction | Potential takeover of Evonik |
| Current stage | Exploratory talks |
| Outcome | Remains open |
| Offer value | Not disclosed |
| Regulatory review | Could be required if the transaction progresses |
What Happens Next?
For now, BASF has provided limited information about the discussions. The company said it will inform the market in accordance with applicable regulatory requirements, and without delay where disclosure is required.
The next stage will depend on whether BASF, Evonik and relevant stakeholders decide to advance the discussions. Any formal offer, transaction structure, valuation or agreement would provide greater clarity about the potential impact on the companies and the wider chemicals industry.
Until then, the proposed takeover remains exploratory. BASF’s confirmation establishes that discussions are taking place, but it does not indicate that an acquisition has been agreed or that the transaction will necessarily proceed.