Red Cat Announces Proposed Voluntary Public Purchase Offer for Steyr Motors
Red Cat Holdings announced a proposed voluntary public purchase offer to acquire all outstanding shares of Austria's Steyr Motors AG for EUR 39.00 per share in cash, a 28.9% premium to the October 16 close. The offer is fully financed and backed by an irrevocable tender undertaking from Steyr's anchor shareholder B&C Holding, representing roughly 15% of share capital; it requires a 50%-plus-one minimum acceptance threshold and regulatory approvals in Austria, Italy, Australia and the UK.
Key figures
- Offering Price
- EUR 39.00 per share
- Premium to 52wk low
- 55.8%
- Acceptance period end
- December 18, 2026, 5:00 p.m. CET
- Premium to 30day vwap
- 27.3%
- Premium to oct16 close
- 28.9%
- Anchor shareholder tender
- approximately 15% of Steyr Motors share capital (B&C Holding Österreich GmbH irrevocable undertaking)
- Minimum acceptance threshold
- 50% plus one share
AI analysis
Red flags3 · Pro
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