Wacker Neuson SE has confirmed it is in discussions regarding an acquisition and takeover by Doosan Bobcat Inc.
Following media reports of the discussion, Wacker Neuson issued a news release confirming its Executive Board is in “advanced discussions” with Doosan Bobcat. regarding the possible acquisition of a majority stake in Wacker Neuson as well as a public takeover of Wacker Neuson by Doosan Bobcat.
According to the news release, Doosan Bobcat is considering the acquisition of 63 per cent of Wacker Neuson’s share capital from major shareholders and launching a public takeover offer in the form of an all-cash offer to all remaining Wacker Neuson shareholders.
“At present, Wacker Neuson cannot predict whether the sale of shares by the major shareholders or a public takeover offer will actually take place. Wacker Neuson will inform the capital markets and the public of any further developments in accordance with legal requirements,” Wacker Neuson said in the news release.
Wacker Neuson is a global manufacturer of construction and compact equipment. The company’s roots date back 177 years ago when Johann Christian Wacker set up a blacksmith shop in Dresden, Germany.
Today the Wacker Neuson Group, headquartered in Munich, Germany, employs about 6,000 people worldwide.
Wacker Neuson offers a wide array of light equipment and compact equipment machines, including concrete and soil compaction tools, demolition tools, generators,
As well as compact excavators, wheel loaders, skid-steers, telescopic handlers and dumpers.
Doosan Bobcat is a is a subsidiary of Doosan Corporation and is known for its Bobcat line of compact equipment.
Bobcat was founded in 1947 as Melroe Manufacturing Company, which introduced the first skid-steer loader. Doosan Infracore acquired Bobcat in 2007, rebranding to Doosan Bobcat in 2015.
Doosan Infracore, which manufactures heavy equipment, and Doosan Bobcat were formally separated into independent companies in 2018.
Later, in 2021, Doosan Infracore was sold to Hyundai Heavy Industries, while Bobcat remained within the Doosan Group under Doosan Heavy Industries.
