BASF Approaches Evonik with Higher Takeover Offer

BASF has made a higher takeover offer for Evonik Industries AG, valuing the company at 24 euros per share. The management of BASF is emphasizing potential synergies and economies of scale in their acquisition strategy. They plan to keep Essen as a key location and ensure at least one board member is retained there. This move comes amid ongoing market speculation about a potential acquisition.