Stock Track | Ryerson Holding Plunges 7.98% Pre-market on Merger Deal with Olympic Steel

Stock Track10-29

Ryerson Holding (RYI) saw its stock price plummet 7.98% in pre-market trading on Wednesday, following the announcement of a merger agreement with Olympic Steel (ZEUS). The significant drop reflects investors' concerns about the terms of the deal and its potential impact on Ryerson's shareholders.

According to the merger agreement, announced late Tuesday, Olympic Steel shareholders will receive 1.7105 Ryerson common shares for every Olympic Steel common share they own. This exchange ratio implies a premium for Olympic Steel shareholders, which explains the contrasting market reactions: while Ryerson's stock is falling, Olympic Steel's shares rallied 16% in pre-market trading.

The merger, expected to close in the first quarter of 2026, will result in Olympic Steel shareholders owning approximately 37% of the combined company. Ryerson's Chief Executive Officer, Eddie Lehner, will continue to serve as CEO of the merged entity, while Olympic Steel's CEO, Richard Marabito, will take on the role of chief operating officer. The companies believe that Olympic's footprint, capabilities, and product offerings will complement Ryerson's network of service centers, potentially creating synergies in the metal distribution industry.

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