Evraz completes Oregon Steel tender

The Russian steel giant Evraz Group announced on January 12 that a cash tender offer by its wholly-owned subsidiary, Oscar Acquisition Merger Sub, Inc., to purchase outstanding shares of common stock of US-based Oregon Steel Mills has been successfully completed. By the expiration of the offer period (January 12, 5 p.m., New York City Time), Evraz was able to make a tender bid for a total of 32,784,081 shares of Oregon Steel, representing approximately a 91.5 percent stake in the targeted company. In accordance with the previously announced merger agreement, Evraz' next step will be to effect a short-form merger.