Ryerson Holding Corporation & Olympic Steel, Inc. have agreed to merge in an all-stock transaction. The deal will form a $6.5B industrial metals powerhouse, positioning it as the second-largest North American metals service center. Shareholders of Olympic Steel will receive Ryerson stock, owning about 37% of the new company. The merger is projected to yield $120M in annual cost savings & is slated to close in early 2026.