Red Cat Bids $230M for Steyr Motors
US drone maker Red Cat Holdings plans to acquire Austrian engine manufacturer Steyr Motors in a deal valued at about $230 million. Steyr shares jumped following the voluntary takeover offer at €39 per share in cash. The transaction is expected to close in the first half of 2027.
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Red Cat Holdings agreed to acquire Austria-based Steyr Motors for $230 million in a cash deal. The United States drone manufacturer is offering €39 per share, representing a 28.9% premium over the previous close. The cross-border transaction combines unmanned aerial systems with specialized engine manufacturing.
