Red Cat Proposes $43.75-per-Share Acquisition of Steyr Motors

03:37 AM EDT, 10/19/2026 (MT Newswires) -- Red Cat Holdings (RCAT) has made a proposal to acquire Steyr Motors for 39 euros ($43.75) per share in cash, the company said Monday. Under the proposal, Red Cat would integrate Steyr's engines into its unmanned marine drones to expand its autonomous maritime military offerings, the company said. Red Cat plans to keep Steyr's Australian headquarters, manufacturing operations, and R&D facilities in Austria, the company said. The proposed acquisition of the Austrian marine engine manufacturer has the support of the Germany-listed Steyr's main investor, B&C, as well as its current management team and board of directors, according to a statement. The proposed acquisition is subject to regulatory approvals in Austria, Italy, Australia, and the UK, and shareholder approval, the company said.