Red Cat Proposes €39-Per-Share Offer for Steyr Motors in Maritime Push

Red Cat Holdings has proposed a €39-a-share cash offer for all outstanding shares of Austria’s Steyr Motors, aiming to add engine capacity to its uncrewed maritime business. The voluntary offer would be made through SMOT Acquisition GmbH, Red Cat’s wholly owned Austrian subsidiary. Red Cat expects the transaction to close in the first half of 2027, subject to required conditions. The offer price is 28.9% above Steyr’s Oct. 16 closing price on Xetra and 55.8% above its 52-week low. It is also 27.3% above Steyr’s 30-day volume-weighted average price.

Source: TokenPost