Doosan Group has decided to abandon its merger plan between Doosan Robotics and Doosan Bobcat due to opposition from shareholders and regulatory pressure. Despite this, the group still aims to proceed with its broader strategy of integrating Bobcat under Robotics to achieve synergy across its business operations. The cancellation of the comprehensive share exchange agreement, initially intended to streamline their business structures, was announced after the boards of Doosan Bobcat and Doosan Robotics convened and decided to reverse the plan. The CEOs of both companies expressed their intention to explore alternative ways to create synergies between the two companies, potentially revisiting the reorganization plan after further communication with the market. The decision to cancel the merger was influenced by widespread criticism that the proposed merger ratio undervalued Doosan Bobcat. The initial terms, which would have seen Doosan Bobcat shareholders receive 0.6 shares of Doosan Robotics for each share of Doosan Bobcat, faced resistance as it was perceived to underestimate the true value of Doosan Bobcat. Despite the cancellation, Doosan Group remains committed to its original plan of spinning off Doosan Bobcat from Doosan Enerbility and placing it under Doosan Robotics, emphasizing the importance of this restructuring for leveraging synergies, particularly in bolstering its robotics business in North America and advancing its autonomous and automated construction machinery initiatives. The key question now is whether the revised spin-off or split merger approach will be approved by the Financial Supervisory Service (FSS), with the group expressing its intention to address the authorities' concerns and reschedule the shareholders' meeting and related proceedings after incorporating market feedback. The news of the merger's withdrawal had an immediate impact on the stock market, with Doosan Robotics' shares closing up 4.84 percent and Doosan Corporation's shares increasing by 1.02 percent, while shares of Doosan Enerbility and Bobcat experienced declines.