WASHINGTON (dpa-AFX) - Evonik Industries AG (EVK.DE) on Friday said its Executive Board has decided not to enter into takeover negotiations with BASF SE after reviewing a letter expressing interest in making a voluntary public takeover offer.
BASF sent the letter on October 22, outlining its interest in a potential offer for Evonik. After assessing the available information, Evonik said it remains committed to its existing strategic direction and to developing the company as an independent business.
However, Evonik said it is willing to hold a confidential, informational exchange with BASF. The discussions would allow Evonik to explain its position while allowing BASF to outline the rationale and key considerations behind its takeover interest.
EVK.DE is currently trading at EUR 20.90, down EUR 0.12 or 0.57 percent on the XETRA.
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