Evraz completes tender offer for Claymont Steel

By Lisa Kerner

Charlotte, N.C., Jan. 17 - Evraz Group SA accepted for payment 16,415,722 shares, or 93.4%, of Claymont Steel Holdings, Inc. common stock in the tender offer ended Jan. 16.

The total number of shares excludes shares delivered under notices of guaranteed delivery.

Under the companies' merger agreement, Evraz will effect a short-form merger, according to a company news release.

Evraz, through its subsidiary Titan Acquisition Sub, Inc., began a $23.50-per-share tender offer for Claymont on Dec. 18.

It was previously reported that Evraz agreed to acquire Claymont Steel in a deal valued at $564.8 million in order to expand Evraz's presence in North America.

Evraz is a vertically integrated steel and mining business based in Luxembourg.

Claymont Steel manufactures and sells custom discrete steel plate. The company is located in Claymont, Del.

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