Russian Evraz to absorb US Oregon Steel Mills
10 Jan, 2007 05:13
US Committee on Foreign Investment has approved the purchase by Russian steel company Evraz of Oregon Steel Mills. The deal has been valued at more than $US 3 BLN.
The Committee on Foreign Investment found no national security reasons to block the $US 2.5 BLN acquisition.Evraz made an offer for all shares in Oregon Steel and extended its offer until Friday. Investment analysts expect a majority to accept the $US 63 a share offer price.