Evonik rejects $11.7 billion BASF takeover bid, sources say

German chemicals manufacturer Evonik XETR:EVK has rejected a €10.3 billion ($11.70 billion) takeover bid from larger rival and BASF XETR:BAS for being too low, sources close to the negotiations told Reuters on Monday.BASF, one of the world's largest chemicals makers, had offered about €22.15 per Ev…