Red Cat pulls preliminary proposal for Steyr Motors AG

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Defense tech provider Red Cat Holdings has officially withdrawn its non-binding offer for Steyr Motors AG, confirming that no active proposal remains outstanding. The company stated that no definitive agreement was signed and that it does not intend to comment further on market rumors or potential transactions unless required. Red Cat shares closed 4.4% lower on Tuesday and are down 6% for the year.

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Red Cat withdrew its preliminary proposal for Steyr Motors, and shares fell 4.4%

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