• NuWays downgraded Steyr Motors to Hold from Buy in its November 11 report, citing takeover-related risks.
• The 12-month price target fell to EUR 39 from EUR 49, matching Red Cat's cash offer.
• Red Cat's planned delisting and lower expected trading liquidity limit shareholders' ability to realize standalone upside, NuWays said.
• Regulatory clearances are due by June 30, 2027, beyond the initial December 18, 2026, acceptance deadline, leaving settlement timing uncertain.
• Both boards unanimously recommend acceptance; B&C has committed to tender its approximately 15% stake.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Steyr Motors AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_27420) on November 11, 2026, and is solely responsible for the information contained therein.