Doosan Group Cancels Plans to Merge Doosan Robotics and Doosan Bobcat

• On 29 August, the Doosan Group announced that it is cancelling the merger between Doosan Robotics (454910 KS) and Doosan Bobcat Inc (241560 KS).

• However, the plan to split Doosan Enerbility into a newco and then merge Doosan Bobcat with the newco will remain in place.

• Doosan Group is still trying to complete the first two portions of reorganization (Split of Doosan Enerbility and Merger Swap Between Doosan Enerbility and Doosan Robotics), resulting in continued uncertainty.

Doosan Bobcat and Doosan Robotics Cancels Merger Plans

On 29 August, the Doosan Group announced that it is cancelling the merger between Doosan Robotics (454910 KS) and Doosan Bobcat Inc (241560 KS). The cancellation of the merger between Doosan Bobcat and Doosan Robotics via comprehensive stock swap also means that the plan to delist Doosan Bobcat and make it a 100% subsidiary of Doosan Robotics will also be cancelled.

Share Price Comparisons of Major Doosan Group Companies Involved in Cancelled Merger

Following this cancellation, Doosan Robotics' share price is up 4.8%. However, Doosan Bobcat and Doosan Enerbility's share prices are down 3.3% and 3.9%, respectively. Since the announcement of the merger (11 July), Doosan Bobcat, Doosan Robotics, and Doosan Enerbility's share prices are down 19.1%, 18.8%, and 18.8%, respectively, sharply underperforming KOSPI which is down 7.9% in the same period.