US company plans takeover of Steyr Motors
Published
The US drone specialist Red Cat has submitted an official offer for the acquisition of the Austrian engine manufacturer Steyr Motors. The company from the USA intends to acquire all shares of the long-established business from Upper Austria.
The offer provides for a purchase price of 39 euros per share in cash. This price is significantly higher than the last stock market closing price on October 16. Specifically, this corresponds to a premium of around 28.9 percent for Steyr Motors shareholders.
Steyr Motors is internationally known for its specialized propulsion solutions. The company supplies customers in the defense sector and the shipping industry, among others. Through this acquisition, Red Cat aims to further strengthen its own position in the field of drone technology and military equipment.
Whether the takeover will be successfully completed now depends on the approval of the shareholders and the necessary regulatory clearances. The market has already reacted to the announcement, as the offered price represents a clear appreciation of the Austrian company.
This development remains significant for Austria as a business location, as Steyr Motors is an important employer in the region. Experts are now closely monitoring how the ownership structure will change in the coming months.
Sources: brutkasten
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