Prnewswire·2025-10-28 20:51Core Viewpoint - Ryerson Holding Corporation and Olympic Steel, Inc. have announced a definitive agreement to merge, creating the second-largest metals service center in North America, which is expected to generate approximately $120 million in annual synergies by the end of year two [1][2][4] Summary by Sections Merger Agreement - Olympic Steel shareholders will receive 1.7105 Ryerson shares for each Olympic Steel share, resulting in them owning approximately 37% of the combined company [2] - The merger is anticipated to be immediately accretive to shareholders and will reduce the pro-forma leverage ratio to less than three times, assuming partial credit for synergies [2] Leadership Structure - Michael D. Siegal, Executive Chairman of Olympic Steel, will become chairman of the Board of Directors of the combined company, while Eddie Lehner, CEO of Ryerson, will serve as CEO [3] - Olympic Steel will appoint three additional directors to the combined 11-member Board [3] Strategic Benefits - The merger is expected to enhance market presence and add significant value to stakeholders through improved customer experience, faster lead times, and a wider array of custom solutions [4] - The combined company will leverage Ryerson's digital investments to enhance Olympic Steel's capabilities within a larger network [4] Company Backgrounds - Ryerson, founded in 1842, is a leading value-added processor and distributor of industrial metals with around 4,300 employees across approximately 110 locations [8] - Olympic Steel, established in 1954, focuses on the direct sale and value-added processing of various steel products and operates from 54 facilities [9]