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[SITUATION] · [ACTIVE] · [BUSINESS]
2 clusters · 6 sources · 3 days · First seen · Last updated
Red Cat Holdings acquisition of Steyr Motors
Overview
US-based defense technology company Red Cat Holdings has initiated a voluntary public takeover bid for the Austrian company Steyr Motors AG. Through its subsidiary SMOT Acquisition GmbH, Red Cat has offered 39.00 EUR per share in cash, a valuation of approximately 205 million euros that represents a nearly 29 percent premium over previous closing prices.
Red Cat intends to use Steyr Motors as a European competence center for unmanned systems, such as drones and autonomous watercraft, while maintaining production, research, and development activities in Steyr. The acquisition has received support from Steyr Motors CEO Julian Cassutti and the B&C Group, which holds a 15 percent stake.
The transaction is subject to a binding merger agreement and requires regulatory approvals, including investment control clearances in Austria, Italy, Australia, and the United Kingdom. The acceptance period is expected to conclude by December 18, 2026, with the completion of the takeover anticipated in the first half of 2027.
Entities
Red Cat Holdings · B&C Group · Jeff Thompson · Steyr Motors AG · Julian Cassutti
Timeline
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[BUSINESS] 2 sourcesRed Cat Holdings launches takeover bid for Steyr Motors
US drone manufacturer Red Cat Holdings has launched a 205 million euro cash takeover bid for Austria's Steyr Motors at 39 euros per share.
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[BUSINESS] 4 sourcesRed Cat Holdings to acquire Steyr Motors
US defense firm Red Cat Holdings has launched a takeover bid for Steyr Motors AG at 39.00 EUR per share, aiming to expand its European presence while maintaining production and R&D in Austria.
Sources
dronexl.co · finanzen.net · finanznachrichten.de · juve.de · nachrichten.at · oesterreich.orf.at