| From FT: Doosan Infracore, the world’s seventh-largest construction equipment maker, hopes that, with a helping hand from Bobcat, the US company it acquired last year, it will become one of the top three global players by 2012.
Following its $4.9bn acquisition of Bobcat and two other units of Ingersoll-Rand, the US conglomerate, the South Korean company has faced mounting concerns about its financial health in recent months especially as business at Bobcat deteriorates amid the deepening US economic slowdown. Shares of Doosan have fallen more than 30 per cent this year on investors’ fear that it overpaid for the Bobcat deal, which could create problems funding further acquisitions. To calm investor jitters about its financial problems, the company has announced a $1bn rights offering through the first half of next year to pay back part of the $2.9bn it borrowed to fund the Bobcat acquisition..... Full Article: Source
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