BASF raises Evonik offer to €24 a share, source says (updated)

BASF SE

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MUNICH, Oct 23 (Reuters) - Germany-based BASF BASFn.DE has increased its takeover offer for chemicals manufacturer Evonik Industries EVKn.DE to €24  ($26.86) per share, a person close to BASF told Reuters on Friday.
Evonik declined comment.
Bloomberg News first reported on Friday that BASF raised its offer for Evonik to more than €11 billion ($12.31 billion), citing people familiar with the matter.
BASF's revised offer comes with guarantees on jobs and Evonik's productions sites.
Evonik and BASF said in September that BASF had approached it about a possible takeover.
Evonik's stock was up 3.1% at 1147 GMT, BASF shares were down 0.42%.  

 (Reporting by Alexander Huebner in Munich, Sathvi G Bhat in Bengaluru; Writing by Tristan Veyet in Gdansk, Editing by Jonathan Ananda and Matthias Williams)
 ((Sathvi.GBhat@thomsonreuters.com))