Evraz opens tender offer for Oregon Steel

The Russian Evraz Group S.A announced November 30 that it has launched a cash offer to purchase all outstanding shares of common stock of Portland-based Oregon Steel through its solely-owned subsidiary, Oscar Acquisition Merger Sub Inc. Following the successful closing of the tender offer, Oregon Steel shareholders will receive $63.25 in cash for each of the target company shares tendered in the offer and Oregon Steel will become a subsidiary of Evraz. The tender offer will expire on December 28, 2006, unless extended in accordance with the terms of the definitive agreement signed by Evraz and Oregon Steel on November 20.