German chemical giant BASF announced that it was holding preliminary talks over the acquisition of peer Evonik. The acquisition is being considered as part of its strategy amid intense competition between European and Chinese companies.
German chemical giant BASF disclosed that it was holding preliminary talks over the acquisition of peer Evonik.
The talks remain at a preliminary stage, and no formal decision has been made or agreement reached on transaction terms.
The possibility of an acquisition is reportedly being considered as European companies face competition from Chinese companies.