Doosan Robotics and Doosan Enerbility, Bobcat's parent company, said they held separate board meetings Monday and approved a restructuring plan, under which Bobcat, a construction equipment manufacturer, will be separated from its parent and affiliated under Robotics.
Enerbility will create a new entity holding Bobcat shares, which will then merge with Robotics.
The boards revised the merger ratio between the new entity and Robotics, increasing it from 1:0.031 to 1:0.043.
This means shareholders of 100 Enerbility shares would now receive about 4.3 Robotics shares, up from 3.1.
Doosan Group scrapped the original merger plan in August following criticism from financial authorities and shareholders.
Critics argued the plan undervalued the profitable Bobcat while overvaluing the loss-making robotics company.
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