04:34 AM EDT, 10/29/2025 (MT Newswires) -- Ryerson Holding ( RYI ) and Olympic Steel ( ZEUS ) said Tuesday that they have entered into a definitive agreement to merge.

Under the agreement, Olympic Steel ( ZEUS ) shareholders will receive 1.7105 Ryerson ( RYI ) common shares for every Olympic Steel ( ZEUS ) common share and own about 37% of the combined company.

The merger is expected to close in Q1 2026 and be immediately accretive to shareholders of the combined entity.

Ryerson ( RYI ) Chief Executive Officer Eddie Lehner will serve as CEO of the combined company, while the Olympic Steel ( ZEUS ) CEO Richard Marabito will serve as chief operating officer.

Olympic Steel ( ZEUS ) Executive Chairman Michael Siegal will be appointed chairman of the board of the combined company.