BASF Balances Evonik Standoff With Buybacks, Nanjing Electronics Bet and Chile Divestment
Published on 11/10/2026 at 03:10 | Editorial boerse-global.de
BASF's pursuit of Evonik remains at an impasse, but the Ludwigshafen-based chemicals giant is hardly standing still. Over the past week it has kept buying back its own stock, inked a deal to build an electronics materials plant in Nanjing, agreed to sell its Palatal business in Chile, and opened the door to a sunscreen collaboration — all while its €24-per-share offer for Evonik sits unanswered.
Evonik talks yield no breakthrough
Chief executives and finance chiefs from the two companies met on Saturday to discuss BASF's takeover approach, according to Reuters. Citing an insider, the report said Evonik is sticking to its refusal, and no further meetings are currently scheduled.
Evonik rejected the improved offer roughly two weeks ago and said it would not enter negotiations. Media reports put BASF's bid at €24 per Evonik share, valuing the company at around €11.2 billion — or €11.18 billion by BASF's own reckoning.
Buyback presses on
During the past week, from Monday through Friday, BASF repurchased about 352,000 of its own shares under its buyback programme. Following that week of purchases, the stock was trading at €54.02.
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Nanjing plant and a sunscreen pact
On 3 November, BASF signed an investment agreement with Nanjing Jiangbei New Area to establish a new production site for electronics materials, to be located in the Nanjing Jiangbei New Materials High-Tech Park.
Separately, BASF and S&J International Enterprises said today they had signed a letter of intent to explore a strategic cooperation in sun protection care.
Chile exit
BASF also agreed to sell its Palatal business in Chile to ALTA Performance Materials. The transaction is subject to customary conditions, including regulatory approvals, and Palatal will remain part of BASF until closing.
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Forecast raised, India results in
The flurry of portfolio moves comes against a brighter earnings backdrop. About two weeks ago, BASF lifted its full-year 2026 guidance, projecting EBITDA before special items of €7.4 billion to €7.8 billion, up from a prior range of €6.9 billion to €7.7 billion. Third-quarter 2026 revenue came in at €16.4 billion.
BASF India Limited, meanwhile, reported revenue of 48.3 billion rupees for the second quarter of its 2026/27 financial year on 3 November, with profit before tax and special items of 830.7 million rupees.
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