Jan 16 2007
Evraz Group S.A. today announced that the cash tender offer by its wholly owned subsidiary Oscar Acquisition Merger Sub, Inc. to purchase outstanding shares of common stock (including the associated preferred stock purchase rights) of Oregon Steel Mills, Inc. has been successfully completed.
Evraz and Oscar Acquisition Merger Sub, Inc. have been advised by Mellon Investor Services LLC, the depositary for the tender offer, that as of the expiration of the offer at 5:00 p.m., New York City time, on January 12, 2007, stockholders of Oregon Steel had tendered into the tender offer 32,784,081 shares of Oregon Steel common stock, including 2,012,151 shares of common stock delivered pursuant to notices of guaranteed delivery, representing approximately 91.5 percent of the outstanding shares of common stock of Oregon Steel. Evraz has accepted for payment all shares of Oregon Steel common stock that were validly tendered during the offer period.
In accordance with the previously announced merger agreement, Evraz now intends to effect a short-form merger. Pursuant to the merger agreement, each share of Oregon Steel common stock not accepted for payment in the tender offer, other than those as to which holders exercise dissenters’ rights and those held by Evraz or Oregon Steel or their respective subsidiaries, will be converted in the merger into the right to receive $63.25 in cash, without interest and less any required withholding taxes. This is the same price per share paid during the tender offer. Evraz intends to complete the short-form merger in the next several days.