ChemBriefLead Story
Evonik rejects $11.7 billion BASF takeover bid, FT reportsEvonik rejected BASF's €10.3 billion takeover bid, stating it was too low for formal negotiations or due diligence, per Financial Times reports.
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Daily Morning Brief
Tuesday, September 29, 2026
Today's Top Stories
- 02
A Kazakh court dismissed NCOC's lawsuit to block a $5 billion environmental fine over sulphur storage violations. Major operators including Shell and Exxon Mobil face enforcement while the case proceeds through international arbitration.
- 03
ICE launched new JKM LNG options, freight futures, and UK electricity derivatives to help customers manage price risks in Asian gas, shipping, and power markets.
- 04
According to a Citi/YouGov survey, UK public inflation expectations rose to 4.5% in September. The Bank of England is monitoring energy price jumps from the Iran war for potential long-term inflation pressures.
- 05
CVC Advisers abandoned its bid for Bodycote, paving the way for Veritas Capital's £1.85 billion takeover offer. Bodycote provides heat-treatment and metal-processing services to key industrial sectors including aerospace and energy.
- 06
Evonik rejected a takeover offer from BASF valued at roughly €22.15 per share, sources say, calling the price too low. BASF had proposed the acquisition earlier in the week.
- 07
Saudi Aramco considers discounts on Oman STS crude to offset record freight rates amid Strait of Hormuz disruptions. The move aims to regain market share as Asian refiners face soaring shipping costs.
- 08
President Trump will announce a $15 billion steel mill project by Mesabi Metallics in Iowa, featuring an initial annual capacity of 7.5 million tons to promote domestic manufacturing.
- 09
BioNTech will close manufacturing sites in Germany and Singapore after failing to find buyers, resulting in up to 1,860 job cuts. This restructuring follows the transfer of COVID-19 vaccine production to partner Pfizer.
- 10
QatarEnergy suspended LNG deliveries to Italian utility Edison since April due to war-related force majeure, with resumption expected in December. The disruption reduces global LNG exports as Europe rushes to fill winter gas storages.
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- FT Reports: Lidl Owner Among Bidders for Tesco's Central European Business
- Turkish Military Pension Fund OYAK Eyes Foreign Partnership on Energy as It Expands Business
- JPMorgan sees India outbound M&A rising as firms move to secure supply chains
- Mubadala in Talks to Invest in Ansaldo Energia, Corriere Reports
- Adama Announces Executive Appointments
- China Rare Earth Group in Talks to Acquire Shenghe Resources, Sources Say
- Jefferies-linked Fund Claims Radiant World Holds Only $10,000 Cash
- Novo partners with Anthropic to speed up drug development with Claude
- Germany's Merz Promises Relief Plan 'Soon' as Pump Prices Hit Record
- BASF mandates banks for planned agricultural business listing