German chemical giant BASF to honor employment security agreement with takeover target Evonik, CEO says

The CEO of German chemicals major BASF said the company plans to honor the employment security agreement entered into by acquisition target Evonik, even if the acquisition goes ahead.

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The story

German chemicals major BASF said it plans to honor the employment security agreement entered into by acquisition target Evonik.

This policy means that the employment security agreement will remain in effect even if the acquisition is completed.

The statement was reported as a comment by BASF's CEO.

At a glance

SubjectThe acquisition target is Evonik.

ContractsThe employment maintenance agreement will be respected.

TimingIt will also apply if the acquisition is completed.

Statement issuerBASF CEO speaks out

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