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BASF raises Evonik takeover bid to 24 euros a share

BASF has increased its takeover bid for Evonik Industries to 24 euros per share, valuing the German chemicals company at roughly 11.18 billion euros. The renewed offer follows Evonik's reported interest in acquiring US firm Ashland.

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FILE PHOTO: A plant of German specialty chemical company Evonik Industries AG is pictured in Bitterfeld, Germany, February 29, 2016. REUTERS/Fabrizio Bensch/File Photo

BASF SE raised its takeover offer for EVONIK INDUSTRIES AG to €24 a share, valuing the company at €11.18 billion ($12.51 billion).
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