Steyr Motors Directors Back EUR205 Million Takeover Offer from Red Cat

04:31 AM EST, 11/02/2026 (MT Newswires) -- Steyr Motors (4X0.VI, 4X0.F) directors recommended that shareholders accept the 205 million-euro takeover proposal from Smot Acquisition, a subsidiary of US-based all-domain drone and robotics company Red Cat Holding. The Austrian customized engine manufacturer said Monday that its management and supervisory boards consider the offer of 39 euros per share fair and in the best interest of the company, its owners and its employees. Audit firm PwC said the proposal is "financially appropriate." The proposal will remain open for acceptance until Dec. 18. Completion is subject to a minimum acceptance threshold of 50% plus one share and other conditions, including foreign investment approvals in several countries.