Evonik rejects $11.7 billion BASF takeover bid, FT reports

Evonik XETR:EVK has rejected a €10.3 billion ($11.7 billion) takeover bid from BASF XETR:BAS for being too low to warrant formal negotiations or to allow its competitor to carry out due diligence, the Financial Times reported on Monday.Reuters could not immediately verify the report.($1 = 0.8800 eu…