BASF says would challenge any takeover attempt, activist investor

Jun. 18, 2020 11:31 AM ET|About: BASF SE (BASFY)|By: Carl Surran, SA News Editor

BASF (OTCQX:BASFY +2.4%) is aware of the risk of an unsolicited takeover approach or an attack from activist investors and is ready to react, CEO Martin Brudermueller said at the company’s virtual annual shareholders meeting.

The CEO said he could not rule out unwanted attempts to take control of the company, given the decline in its market value.

BASF also reiterates it sees Q2 operating profit in the low triple-digit millions of euros and that it will not provide full-year guidance; the company sees business improvement during 2020 but no full recovery.