Evonik Expected to Reject BASF's Sweetened $12.5 Billion Takeover Bid

German chemicals firm Evonik is reportedly poised to reject a sweetened €11.18 billion ($12.48 billion) takeover offer from rival BASF, deeming the bid too low. Evonik may be open to future discussions if BASF improves its offer and provides more clarity on the benefits of a merger, but currently prefers to pursue its standalone strategy.