Evonik Said Eyeing DSM Purchase Amid Chemical Deals Hunt

Evonik Industries AG is exploring an acquisition of Dutch competitor Royal DSM NV as Germany’s second-biggest chemicals maker seeks a large European target, according to people familiar with the matter.

Evonik is talking to advisers about a potential deal with DSM, which would create a company with about 22 billion euros ($28 billion) in sales, as well as analyzing other takeover options, said the people, who asked not to be identified because discussions are private. The Heerlen, Netherlands-based company rebuffed an approach by the German company at the beginning of this year, the people said.