DB Inc. (사진=연합뉴스)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] DB Inc, which serves as the holding company of DB Group, announced on the 20th that it decided to withdraw its merger with DB Metal.

In a public announcement, DB Inc said, "We have been pursuing the merger to increase synergy and create new growth engines by combining the business capabilities and resources of both companies through the merger with DB Metal," adding, "However, due to increasing uncertainty in the economic environment, the market is concerned about the purpose of the merger. "Considering the misunderstandings and concerns of some shareholders, we decided to withdraw the merger," DB Inc explained.

DB Inc added, "We cancel the merger contract and cancel all future planned mergers."

DB Inc held a board meeting in August to decide on a merger and acquisition of DB Metal and planned to raise the issue at an extraordinary shareholders' meeting in December.

Some reportedly decided to withdraw the merger after concerns arose that it was intended to avoid switching to a holding company.

 

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