Red Cat Plans €39-Per-Share Takeover Offer for Steyr Motors
Red Cat plans a voluntary cash offer for all Steyr Motors shares at €39 each, a 28.9% premium to the last closing price.
Steyr Motors, an Austrian maker of engines and engine parts, said on Monday that Red Cat Holdings intends to launch a voluntary cash takeover offer for all of its shares at €39 ($43.8) each. The offer price represents a 28.9% premium to Steyr Motors’ last closing price. The conversion rate cited was $1 = 0.8910 euros.