BASF (BAS GY) is reportedly set to increase its bid for Evonik (EVK GY) to around EUR 24/shr, Bloomberg reports citing sources

BASF (BAS GY) is reportedly set to increase its bid for Evonik (EVK GY) to around EUR 24/shr, Bloomberg reports citing sources.

A sourced report of a raised bid sits mid-sequence in the standard contested-deal playbook: an initial approach or offer has evidently met resistance, and the suitor is testing whether a higher headline price flips the target board or its anchor shareholders before going fully hostile. In past episodes of this kind, the target's share price has tended to converge toward, but remain inside, the reported offer level, with the gap reflecting deal-completion risk around board endorsement, antitrust review, and financing. Chemicals-sector combinations carry a specific regulatory channel: portfolio overlap in specialty and commodity lines has historically forced remedies or divestitures as a condition of clearance, and the overlap between two large German producers would draw close scrutiny. The bidder's own stock has typically traded softer on bid-raise reports, the market pricing the capital outlay and the risk of overpayment in a cyclical downturn. The tells to watch are confirmation or denial from either company, movement among Evonik's largest shareholders, any formal offer documentation under German takeover rules, and early signalling from competition authorities. Until something is on the record, the report is a negotiating signal as much as news.