Talks of a possible acquisition or takeover of Wacker Neuson by Doosan Bobcat have ended, both construction equipment manufacturers have confirmed.
Last month, Wacker Neuson reported it was in “advanced discussions with Doosan Bobcat Inc. regarding the possible acquisition of a majority stake ... as well as a public takeover.”
A statement December 2 from Wacker Neuson said Doosan Bobcat was considering acquiring 63% of its shares from major shareholders and “launching a public takeover offer in the form of an all-cash offer to all remaining Wacker Neuson shareholders.”
On January 22, Wacker Neuson released a new statement saying the discussions have ended and will not be continued. Doosan Bobcat followed up with its own statement, confirming the discussions would not continue.
Both manufacturers said they would maintain their respective focuses on their 2030 growth strategies.
"The Wacker Neuson Group remains focused on executing its Strategy 2030 pursuing sustainable growth," its statement says.
From Doosan Bobcat:
“Doosan Bobcat remains committed to its 2030 strategy by accelerating innovation, allocating capital to the highest-value opportunities and balancing targeted investments with shareholder returns. The company will share more on its forward outlook in the coming months.”
Neither company released further information about the discussion.
Doosan Bobcat had said in December that it had not made a final decision about a takeover. "There is no certainty that a transaction will occur," it added.
"Doosan Bobcat regularly explores strategic opportunities to broaden our global presence, diversify our product offerings and deliver greater value to customers. The company is well positioned to achieve sustainable growth, supported by a strong market position and disciplined financial approach."
Two Historic Manufacturers
Wacker Neuson, based in Munich, Germany, celebrated its 175th anniversary in 2023.
It sells a variety of construction equipment in the U.S. including compactors, compact track loaders, mini track loaders, excavators, wheel loaders, telehandlers, dumpers, remote-control trench rollers and hand-held vibratory rammers and vibratory plates.
Bobcat traces its origins to 1947 with the Melroe Manufacturing Company in Gwinner, North Dakota, and is credited with producing the first skid steer. Today, it manufacturers a variety of equipment, including excavators, compact loaders, telehandlers, tractors and UTVs.
The company was purchased by Doosan, based in South Korea, in 2007. It operated in the U.S. under Doosan Infracore North America, which also included Doosan-branded construction equipment. The two brands separated into subsidiary companies in 2018.
In 2022, facing financial troubles, Doosan Infracore’s construction division was spun off and bought by Hyundai Heavy Industries. Doosan kept Bobcat, and Doosan Infracore later changed its name to Develon.
