Evraz completes Oregon Steel buyout

The Russian steelmaker Evraz Group announced on January 23 the completion of its acquisition of the US-based steelmaker Oregon Steel Mills via short-form merger. The merger followed Evraz's announcement on January 12 of the successful closure of the cash tender offer by Evraz's wholly-owned subsidiary, Oscar Acquisition Merger Sub, Inc., to purchase all outstanding shares in Oregon Steel for $63.25 per share. As a result of the tender, Evraz acquired approximately a 90 percent stake in Oregon Steel.