LUDWIGSHAFEN, Germany (Reuters) - BASF's
"We pay a handsome dividend and then the money is being spent, frankly," Bock said. "We are rightly leveraged, there is little money left for buybacks."
Between 1999 and 2008, BASF purchased about 10 billion euros ($13.7 billion) worth of its own stock.
BASF's largest U.S. rivals Dow Chemical Co
Bock also said the group would continue to focus on smaller merger and acquistion deals.
"One billion euros is about the size we can digest relatively quickly," Bock said, adding, "You might continue to see these types of investments, which are essentially technology driven." ($1 = 0.7285 euros)
(Reporting by Ludwig Burger, editing by Edward Taylor)