Evraz extends tender offer for Oregon Steel Mills

The Russian steelmaker Evraz Group announced on December 28 that it has extended its cash tender offer through the company's 100 percent-owned US subsidiary, Oscar Acquisition Merger Sub Inc., to purchase all outstanding shares of common stock in the US-based Oregon Steel Mills by five p.m., New York time, on January 9, 2007. As previously reported by SteelOrbis, Evraz's tender offer had been scheduled to expire on December 28. The tender offer has been made following the announcement of the definitive merger agreement between Evraz's Oscar Acquisition Merger Sub and Oregon Steel. In the event of the successful closing of the tender, Oregon Steel's shareholders are to receive $63.25 in cash for each common stock share tendered. The current tender offer might be further extended or terminated earlier, as stipulated in the agreement between the concerned companies.