Mergers & Acquisitions ·
Red Cat proposes to acquire Steyr Motors for EUR 39.00 per share in all-cash tender offer
RCATRed Cat Holdings, Inc.
Red Cat Holdings announced a voluntary public cash tender offer through its Austrian subsidiary, SMOT Acquisition GmbH, to acquire all outstanding shares of Steyr Motors AG at EUR 39.00 per share. The transaction targets the company's 5,251,261 bearer shares and is supported by anchor shareholder B & C Holding Österreich GmbH, which has provided an irrevocable undertaking to tender its approximately 15% stake. The acceptance period runs until December 18, 2026, subject to regulatory approvals in Austria, Italy, Australia, and the UK, as well as a minimum acceptance threshold of 50% plus one share. Red Cat intends to maintain Steyr Motors' Austrian operations while integrating its marine engine technology into its autonomous maritime portfolio. Red Cat Holdings is a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security.