Red Cat Unit Plans Cash Offer for Steyr Motors

02:10 AM EDT, 10/19/2026 (MT Newswires) -- Red Cat Holdings' subsidiary SMOT Acquisition is planning a takeover offer for Steyr Motors (4X0.VI, 4X0.F) at 39 euros per share in cash. The Austrian customized engines manufacturer said Monday that the offer price represents a 28.9% premium to its Xetra closing price on Oct. 16 and 55.8% above its 52-week low. SMOT Acquisition has also agreed with B&C Holding Österreich GmbH, which owns about 15% of Steyr Motors, to secure its acceptance of the offer for all its shares. The offer is expected to be subject to foreign direct investment clearances and a minimum acceptance threshold of 50% plus one Steyr share. Completion is expected in the first half of 2027.