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Germany's BASF pledges to secure jobs until 2032 after acquiring Evonik, advancing the €10.3 billion acquisition.
BASF SE CEO has pledged to honor Evonik Industries AG's existing job guarantees until 2032 if its 10.3 billion euro (approximately $11.5 billion) acquisition of its rival is successful. This move is part of BASF's intensified lobbying efforts to advance the acquisition, aiming to strengthen the company through the merger to counter the growing pressure on the European chemical industry from Asian and Middle Eastern competitors. It also seeks to preserve German jobs and create a stronger global player.
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