# Evonik Declines Negotiations on BASF’s €11.2 Billion Offer By John Kim Canonical URL: https://www.tokenpost.com/news/business/44884 Published: 2026-10-30T16:25:03.000Z Updated: 2026-10-30T16:25:03.000Z Section: Business > Evonik had previously acknowledged a nonbinding approach for a voluntary public offer covering all its shares. Evonik Industries, Germany’s second-largest chemical maker, will not enter negotiations with BASF over a proposed acquisition valued at about $12.5 billion and covering all its shares. The approach was nonbinding. Evonik had previously acknowledged receiving a proposal for a voluntary public offer for its entire shareholding. On Sept. 25, BASF described [exploratory discussions with Evonik and RAG-Stiftung](), saying the process and outcome remained open. Evonik said negotiations were not underway at that time. ## Links in this article - [exploratory discussions with Evonik and RAG-Stiftung](https://www.tokenpost.com/news/business/39527)