Ryerson Holding Corporation completed its merger with Olympic Steel on February 13, 2026, issuing approximately 19.5 million shares at a 1.7105 exchange ratio, making Olympic Steel a wholly owned subsidiary. The transaction enhances Ryerson's market position as the second-largest North American metals service center with expected $120 million in annual synergies by early 2028.
Key takeaways
Merger closed February 13, 2026; Merger Sub merged into Olympic Steel per Ohio law
Exchange ratio: 1.7105 Ryerson shares per Olympic common share; ~19.5M Ryerson shares issued
Credit facility amended: commitments increased from $1.3B to $1.8B, maturity extended 5 years from closing
Board expanded from 8 to 11 directors; Michael Siegal appointed Chair ($500K annual compensation), Richard Marabito as President/COO ($975K base + $3.88M sign-on RSU + $1.1M 2026 LTI)
Ticker change to 'RYZ' effective February 24, 2026; Q1 dividend $0.1875/share payable March 19, 2026
Olympic Steel Plan assumed; no new awards permitted