Doosan Enerbility Cancels Spin-Off Merger Plan for Doosan Bobcat Amid Stock Price Drop
Kim Jisun
stockmk2020@alphabiz.co.kr | 2024-12-11 00:37:46
Photo: Doosan Enerbility
[Alpha Biz= Reporter Kim Jisun] Doosan Enerbility announced today (10th) through a public disclosure that it has decided not to hold an extraordinary shareholders' meeting to approve the spin-off merger plan transferring its stake in Doosan Bobcat to Doosan Robotics.
The company explained, "Due to unexpected external environmental changes, the stock price has plummeted sharply, significantly widening the gap between the stock price and the appraisal price for shareholders exercising their sellback rights."
The spin-off merger involving Doosan Enerbility, Doosan Robotics, and Doosan Bobcat was a key part of Doosan Group's business restructuring strategy aimed at strengthening its future competitiveness. However, the plan was ultimately scrapped due to the sharp drop in stock prices.
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