The Russian steel producer Evraz Group (Evraz) has announced the successful completion of its tender offer by its wholly-owned subsidiary Titan Acquisition Sub, Inc. to purchase all outstanding shares in US-based plate producer Claymont Steel.
As a result of the tender, Evraz has acquired an approximate 93.4 percent stake in Claymont Steel.
In accordance with the previously announced merger agreement, Evraz now intends to implement a short-term merger, which the company plans to complete in the next several days.