German chemicals company Evonik confirms that it has received a non-binding approach from BASF regarding a possible voluntary public takeover offer for all shares in the company.
The announcement comes after the Financial Times reported earlier on Friday that BASF had contacted Evonik and its largest shareholder RAG-Stiftung about a possible takeover.
Evonik also states that there are currently no talks between the parties. The company does not intend to comment further on the matter beyond what is required by law.
Evonik has a market capitalization of around EUR 9 billion.
