BASF's Move for Evonik Makes Sense, Citi Says — Market Talk

There is a clear rationale for a tie-up between chemicals makers BASF and Evonik, Citi analysts write in a note. Germany's BASF last week said it made an opening move for its smaller rival, a merger that would be consistent with BASF's strategy to shore up its core businesses, Citi says. "In our vi…