Red Cat Plans to Acquire Steyr Motors in $230 Million Deal
Steyr Motors said Red Cat Holdings plans to acquire the Austrian engine maker in a deal valued at about €204.8 million ($230 million).
Austrian engine and engine-parts maker Steyr Motors XETR:4X0 said on Monday that US drone manufacturer Red Cat Holdings NASDAQ:RCAT plans to acquire it in a transaction valued at about €204.8 million ($230 million). The exchange rate cited was $1 = €0.8910.