Evraz Group plans to buy Oregon Steel Mills at $2.3bn
21 November 2006 (15:00)
Evraz, the Russian enterprise, is going to acquire Oregon Steel Mills Inc., the American metallurgical company, at $2.3bn.
According to the report of Evraz Group, the two parties have agreed that Evraz would buy the shares of their American partner at $63.25 per share. This price covers the 22.3% premium on the average three months’ market price, or 30.3% on the average one-year’s price.
Evraz Group has earlier announced that it was expecting to add some new assets to the ones it has already got in Czech Republic and Italy.
Oregon Steel made $127.9m of net profit and $1.13bn worth of revenues in January-September 2006. The company, based in the west of the U.S. (Oregon and Colorado) produces pipes, steel sheets, rails, and rolled metal.
According to the report of Evraz Group, the two parties have agreed that Evraz would buy the shares of their American partner at $63.25 per share. This price covers the 22.3% premium on the average three months’ market price, or 30.3% on the average one-year’s price.
Evraz Group has earlier announced that it was expecting to add some new assets to the ones it has already got in Czech Republic and Italy.
Oregon Steel made $127.9m of net profit and $1.13bn worth of revenues in January-September 2006. The company, based in the west of the U.S. (Oregon and Colorado) produces pipes, steel sheets, rails, and rolled metal.
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