Evraz gets CFIUS consent for Oregon Steel buyout

The United States Committee on Foreign Investment (CFIUS) has concluded its review relating to the Russian steelmaker Evraz Group's proposal to acquire the US-based Oregon Steel Mills for $2.3 billion, deciding to grant its permission for the acquisition. In addition, Evraz announced that it was waiving the condition in its tender offer requiring the expiration or termination of the International Traffic in Arms Regulations (ITAR) notification period. After considering all facts and circumstances, Evraz has decided that the review made in conformity with ITAR should not further impact the structure of the transaction or the timing of its closure. As a result, Evraz's cash tender offer was further extended until 5 p.m., New York City time, on January 12, 2007, unless further prolonged or terminated.