Evraz buys 91.5% of Oregon Steel shares in tender

New York, Jan. 12 - Evraz Group SA said it agreed to buy all 91.5% of the shares of Oregon Steel Mills, Inc. that were tendered.

By the expiration at 5 p.m. ET on Jan. 12, stockholders had tendered 31,784,081 shares.

Evraz will pay $63.25 per share.

The buyer, acting through Oscar Acquisition Merger Sub, Inc., said it will now carry out a short-form merger.

Evraz, Oscar Acquisition and Oregon Steel originally announced their merger agreement on Nov. 20. The transaction is valued at $2.3 billion.

Evraz is a Moscow-based integrated steel and mining business. Oregon Steel is a Portland, Ore.-based manufacturer and seller of specialty and commodity steel products.

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