Evonik Reportedly Poised to Decline BASF's $12.5 Billion Acquisition Offer

German chemicals company Evonik is anticipated to reject a revised €11.18 billion ($12.48 billion) takeover proposal from competitor BASF, deeming the offer insufficient. While the current bid is expected to be declined, Evonik has indicated a willingness to engage in further negotiations should BASF enhance its offer and clarify the strategic advantages of a potential merger. This signals ongoing M&A activity in the chemicals sector.