BASF—or a merger/acquisition of Evonik!!

【Answer 1】 According to 【Polymer Circular Recycling】, on September 22, European media cited reports from M&A information providers Mergermarket and Dealreporter stating that BASF had conducted preliminary discussions this year regarding a potential merger with German specialty chemicals company Evonik. The news drove Evonik’s share price up by as much as 4.8% that day. However, multiple sources indicated that, constrained by factors including financial capacity and ongoing business divestiture processes, the transaction is unlikely to materialize in the near term. The report states that five insiders disclosed details of these discussions to the media. It confirms that both companies have initiated related talks, and any substantive follow-up actions would proceed exclusively at the executive leadership level. Multiple insiders noted that the idea of a BASF–Evonik merger is not new—it has appeared on corporate board agendas for many years, with conceptual deliberations stretching back nearly two decades, remaining largely at the ideation stage. Several insiders candidly acknowledged that this deal, publicly termed a “merger,” is in essence a BASF acquisition of Evonik. Financial pressure and ongoing business divestiture plans constitute the core constraints impeding short-term progress on this transaction. Insiders stated that BASF currently faces tight liquidity and will not launch such a major acquisition before completing the IPO of its Agricultural Solutions business. BASF has recently appointed Citigroup, Deutsche Bank, Goldman Sachs, and JPMorgan Chase as global coordinators for this IPO, with the listing expected to occur no earlier than mid-2027. Polymer circular recycling—including plastics, fibers, rubber, and resin-based composites—is a critical global initiative toward carbon neutrality and green transformation, representing an inevitable industrial trend. Building upon the first three editions, the 2026 (4th) Polymer Circularity and Recycling Conference (PCRC 2026) will be held in Ningbo, Zhejiang Province, from December 17–19, 2026. Centered on the theme “Advanced Recycling · High-Value Regeneration · Industrial Collaboration,” the conference focuses on recycling technologies and applications for plastics, fibers, rubber, and resin-based composite materials. It brings together academia, research institutes, and industry to exchange insights on cutting-edge recycling technologies, design of recyclable materials, and practical industrial applications—accelerating technology transfer and upstream-downstream collaboration. The conference will feature three concurrent events: the Dynamic Polymers & Recyclable Materials Design Forum; the Exhibition on Polymer Circular Recycling Materials and Equipment Technologies; and the Exhibition on Innovative Achievements in Polymer Circular Recycling—further promoting knowledge sharing, cooperation, industrial synergy, and market alignment in the resource-circularity sector. Experts and enterprises across the value chain are warmly invited to participate, exchange ideas, and explore collaboration! 01 Organizational Structure Conference Name 2026 (4th) Polymer Circularity and Recycling Conference Polymer Circularity and Recycling Conference (PCRC 2026)

China Zhongzhi Weiyie Information | BASF raises its acquisition offer for Evonik!

【Answer 2】 On October 23, Reuters reported that BASF has raised its acquisition offer for German chemical manufacturer Evonik Industries AG. Two individuals familiar with the deal told Reuters that the revised offer stands at €24 per share—valuing the entire transaction at over €11 billion. It is understood that Evonik rejected BASF’s prior €10.3 billion bid in September, deeming it insufficient. Evonik declined to comment, as did RAG Foundation—the company’s largest shareholder. Notably, BASF renewed its acquisition proposal one day after Evonik announced its intention to acquire U.S.-based specialty chemicals company Ashland. Reports indicate Evonik’s interest in Ashland predates BASF’s initial offer. BASF views Evonik’s proposed acquisition of Ashland as excessively risky. Evonik’s product portfolio includes high-tech plastics, feed additives, and raw materials for coatings and household products. BASF produces engineering plastics, superabsorbent polymers, vitamins, and industrial chemicals. BASF stated that, if the acquisition proceeds, it will honor all existing agreements and preserve jobs created by Evonik—and warned that even more disruptive overseas acquisition attempts may soon emerge.

BASF pushes Evonik deal as results sparkle

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BASF CEO Markus Kamieth advocates acquiring rival Evonik Industries following strong third-quarter earnings under his Winning Ways strategy. The deal aims to consolidate BASF's core chemical business after recent divestments in coatings and agriculture units.

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