Olympic Steel Inc (ZEUS) News & EventsZEUSOlympic Steel Inc

Ryerson Holding and Olympic Steel Successfully Merge

Ryerson Holding (RYI) and Olympic Steel ( ZEUS) together announce that they have successfully merged as of today. Ryerson is issuing 1.7105 shares of Ryerson common stock for every share of Olympic Steel common stock, after which former shareholders of Olympic Steel will hold approximately 37% of Ryerson. As of February 24, the company will trade on the New York Stock Exchange as Ryerson Holding Corporation under the ticker "RYZ," which will honor both companies' former tickers and reflect the unification of their respective legacies and go-forward mission.

Ryerson and Olympic Steel Merger Approved by Shareholders

Ryerson Holding (RYI) and Olympic Steel (ZEUS) announced that the shareholders of Olympic Steel and the stockholders of Ryerson have approved the merger and the related issuance of Ryerson stock, respectively, at their respective Special Meetings. As a result, the closing of the merger is expected to occur on February 13, subject to the satisfaction of the remaining customary closing conditions. Shares of Olympic Steel will cease trading on February 13, and following the closing, Olympic Steel will no longer be listed on the NASDAQ exchange. Under the terms of the merger agreement, upon the closing of the transaction, Olympic Steel will merge with Ryerson on the terms set forth in the merger agreement and Olympic Steel shareholders will be entitled to receive 1.7105 shares of Ryerson common stock per share of Olympic Steel common stock.

Ryerson and Olympic Steel Reveal Finalized Merger Agreement

Ryerson Holding (RYI) and Olympic Steel (ZEUS) announced that they have entered into a definitive agreement to merge. The merger will enhance the combined company's presence as the second-largest North American metals service center and represents a highly compatible strategic match as it will bring Olympic Steel's complementary footprint, capabilities, and product offerings into Ryerson's intelligently interconnected network of value-added service centers. The transaction is expected to generate approximately $120M in annual synergies by the end of year two via procurement scale, efficiency gains, commercial enhancement, and network optimization. Under the terms of the merger agreement, Olympic Steel shareholders will receive 1.7105 Ryerson shares of common stock for every Olympic Steel share of common stock owned and will own approximately 37% of the combined company. The merger is expected to be immediately accretive to shareholders of the combined entity and is expected to result in a reduced pro-forma leverage ratio of less than three times, assuming partial credit for synergies. The deal is expected to close in the Q1 of 2026, subject to the satisfaction or waiver of customary closing conditions and the receipt of regulatory and shareholder approvals. Michael D. Siegal, Executive Chairman of Olympic Steel's Board of Directors, will be appointed chairman of the Board of Directors of the combined company, and Olympic Steel will also appoint three other mutually satisfactory directors to the combined 11-member Board. Eddie Lehner, President and CEO of Ryerson, will serve as CEO of the combined company, with Richard T. Marabito, CEO of Olympic Steel, serving as President and COO.