Evonik Rejects BASF Takeover Approach and Declines Negotiations
Evonik Industries said it will not enter takeover negotiations with BASF after reviewing a letter from the rival chemical company.
By Michael HennesseyChemicals producer Evonik Industries said it won't enter takeover negotiations with rival BASF, a blow to the German chemical giant's attempts to bolster its position in the sector.Evonik said Friday that it had reviewed a letter from BASF, sent last week, which expressed an in…