Ryerson Stockholders Approve Olympic Steel Merger; Closing Expected Tomorrow
Summary
Ryerson stockholders approved the share issuance for the Olympic Steel merger, with closing anticipated on February 13, 2026, marking a definitive step towards completing the acquisition.
Key Events
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Shareholder Approval Secured
Ryerson stockholders approved the issuance of common stock required for the merger with Olympic Steel, Inc. with 90.95% of outstanding shares present and voting overwhelmingly in favor.
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Merger Closing Imminent
The all-stock merger with Olympic Steel is now expected to close on February 13, 2026, following the successful shareholder vote.
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Olympic Steel Delisting Confirmed
Upon closing, Olympic Steel shares will cease trading and be delisted from the NASDAQ exchange, becoming a wholly-owned subsidiary of Ryerson.
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Exchange Ratio Maintained
Olympic Steel shareholders will receive 1.7105 shares of Ryerson common stock for each Olympic Steel common stock share, as previously announced.
Analysis
Ryerson Holding Corporation's stockholders have approved the issuance of shares necessary for the all-stock merger with Olympic Steel, Inc. This crucial vote clears a significant hurdle, with the merger now expected to close on February 13, 2026. The successful approval and imminent closing provide certainty regarding the transaction, which will result in Olympic Steel becoming a wholly-owned subsidiary of Ryerson and its shares ceasing to trade on NASDAQ. This follows the previous disclosure on February 6, 2026, which indicated the merger was proceeding towards a shareholder vote.
At the time of this filing, RYI was trading at $27.93 on NYSE in the Trade & Services sector, with a market capitalization of approximately $899.7M. The 52-week trading range was $19.02 to $30.90. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.