SEOUL, January 23 (AJP) -Doosan Bobcat is walking away from around $3 billion acquisition talks with German construction equipment maker Wacker Neuson SE, formally ending negotiations that would have marked one of the South Korean company’s largest overseas deals.
In a regulatory filing on Friday, the KOSPI-trading Doosan Bobcat said it had reviewed the potential acquisition but decided not to proceed, without disclosing further details. Shares were up 1.3 percent at 60,800 won as of 1:00 p.m. in Seoul.
“After reviewing the acquisition of Wacker Neuson, we have decided not to move forward,” the company said.
Wacker Neuson separately confirmed that discussions would not continue. In a disclosure released late Thursday under the European Union’s Market Abuse Regulation, the Munich-based company said talks with Doosan Bobcat regarding the acquisition of a majority stake and a possible public takeover offer had been terminated.
“The Wacker Neuson Group remains focused on executing its Strategy 2030, pursuing sustainable growth,” the company said.
The decision brings to a close roughly a year of negotiations between the two compact construction equipment makers.
Wacker Neuson last month said it was in “advanced discussions” with Doosan Bobcat over the sale of about 63 percent of its shares by major shareholders, followed by an all-cash public takeover offer for remaining shares.
Investment banking sources said the deal fell through largely over valuation, with the proposed purchase price seen as too high amid a global slowdown in construction equipment demand.
Analysts had estimated the total transaction value at more than 5 trillion won ($3.4 billion), which would have made it Doosan Bobcat’s largest acquisition since it bought the Bobcat brand in 2007.
Wacker Neuson is the market leader in Europe’s compact construction equipment segment, while Doosan Bobcat dominates North America. The acquisition had been widely viewed as a strategic move to accelerate Doosan Bobcat’s expansion in Europe and diversify its geographic revenue base.
Both companies have been facing softer market conditions. Doosan Bobcat reported declining sales in both North America and Europe in 2025, while Wacker Neuson has also posted revenue declines across its major regions, reflecting high borrowing costs and weaker construction activity.
Doosan Bobcat said it would continue to explore strategic opportunities to strengthen its global presence, but stressed that any move would be guided by financial discipline.
Copyright ⓒ Aju Press All rights reserved.