Evonik to Pitch Fresh Value Targets as BASF's €24 Bid Stays on Ice
Published on 11/08/2026 at 18:31 | Editorial boerse-global.de
Evonik plans to lay out new medium-term targets aimed at lifting shareholder value as it pushes back against BASF's takeover approach, according to Bloomberg. Representatives of the specialty chemicals maker were reported Friday to be ready to present those goals during weekend talks — a move that follows Evonik's rejection of BASF's improved offer.
The standoff has centered on BASF's bid of €24 per Evonik share, a price that values the company at more than €11 billion. Evonik interim chief Claus Rettig reiterated the rejection in comments reported by Handelsblatt on Thursday, and the company restated its refusal on Friday. BASF shares ended the last trading session down 2.9%, caught in a broad European selloff that Reuters linked to waning risk appetite over AI investment concerns following the US election outcome; the DAX fell harder than other regional benchmarks.
Analyst Nudge and Buyback Progress
On the capital-markets side, LBBW raised its price target on BASF from €56 to €57 on Wednesday while keeping its "Hold" rating, according to media reports. The company also pressed ahead with returning cash to shareholders, disclosing on November 2 that it had repurchased roughly 355,000 shares between October 26 and October 30 under its buyback program.
Should investors sell immediately? Or is it worth buying BASF?
Portfolio Reshaping in Chile
BASF agreed Friday to sell its Palatal business in Chile to ALTA Performance Materials. The deal remains subject to customary conditions, including regulatory approvals, meaning it is signed but not yet completed.
Pipeline Wins From Australia to Nanjing
In its operating business, BASF said Wednesday that its Luximax herbicide had won approval for use on Australian canola — the first Group-30 herbicide to secure such a registration, per company statements. Two days earlier, the group signed an investment agreement with the Nanjing Jiangbei New Area for a new electronics-materials production site in Nanjing, with commissioning targeted by the end of 2028. The same day, BASF and ParagonCorp signed a letter of intent to explore a possible collaboration on science-backed cosmetic innovation.
Guidance Upgrade Sets the Backdrop
Those moves rest on a brighter earnings outlook. About two weeks ago, BASF lifted its full-year 2026 forecast for EBITDA before special items to a range of €7.4 billion to €7.8 billion, up from the previously expected €6.9 billion to €7.7 billion. In the third quarter of 2026, sales rose 14% year on year to €16.4 billion, while EBITDA before special items climbed 15% to €1.6 billion.
Investors' next scheduled marker is November 11, 2026, when BASF plans to inaugurate its new MDI production plant at the Geismar integrated site; the company said it will issue a press release after the event.
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BASF Stock: New Analysis - 8 November
Fresh BASF information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
