Steyr Motors’ Management Board and Supervisory Board on 2 November 2026 recommended that shareholders accept a voluntary cash offer of EUR 39.00 per share from SMOT Acquisition GmbH, a subsidiary of US-listed Red Cat Holdings, Inc. The joint reasoned statement calls the price “fair, adequate and attractive” and notes the proposal carries a roughly 28.9% premium to the Xetra closing price on 16 October 2026.
Deal terms and site guarantees
The offer document, published on 22 October, sets the cash price at EUR 39.00 per share and makes completion subject to customary conditions including foreign direct investment approvals in Austria, Australia, Italy and the United Kingdom; the acceptance period runs until 18 December 2026 (17:00 CET). The offer’s headline value is about EUR 205 million if fully accepted.
Crucially for employees and local politics, the Business Combination Agreement and the company’s subsequent reasoned statement record binding commitments by Red Cat to keep Austria as the company’s registered office and to maintain the Steyr production, R&D and headquarters site. The BCA also includes a pledge not to change existing works agreements and collective‑bargaining arrangements, a three‑year commitment to keep the site and a two‑year restriction on operationally driven dismissals of technical staff.
Company performance and strategic context
Steyr Motors has reported improving operating results in 2026: Group revenue rose 11.2% in Q3 to EUR 12.5 million and management confirmed full‑year guidance (2026 revenue growth target 15–25% and an EBIT margin of 8–12%). The company also carries an order backlog of more than EUR 300 million extending through 2030, driven by defence call‑offs such as KNDS and naval projects. The deal documentation and the Q3 release link the acquisition case to Steyr’s role in specialised engines, unmanned surface vehicles and mobile power systems.
