Ryerson and Olympic Steel Reveal Finalized Merger Agreement

Written by Emily J. Thompson, Senior Investment Analyst

RYI+2.47%

ZEUS+2.58%

Updated: Oct 28 2025

0mins

Merger Announcement: Ryerson Holding (RYI) and Olympic Steel (ZEUS) have agreed to merge, creating the second-largest metals service center in North America, enhancing their strategic capabilities and product offerings.
Financial Synergies: The merger is projected to generate approximately $120 million in annual synergies by the end of year two through improved procurement, efficiency, and network optimization.
Shareholder Structure: Olympic Steel shareholders will receive 1.7105 Ryerson shares for each share they own, resulting in them holding about 37% of the combined company.
Leadership and Governance: Michael D. Siegal will become chairman of the new Board, while Eddie Lehner will serve as CEO, with Richard T. Marabito as President and COO, following the merger's expected closure in Q1 2026.

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RYI

$28.22+Infinity%1D

Analyst Views on RYI

Wall Street analysts forecast RYI stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RYI is 26.32 USD with a low forecast of 26.32 USD and a high forecast of 26.32 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Analyst Rating

0 Buy

1 Hold

0 Sell

Hold

Current: 27.540

Low

26.32

Averages

26.32

High

26.32

Current: 27.540

Low

26.32

Averages

26.32

High

26.32

BMO Capital

Katja Jancic

Hold

Maintains

$23 → $25

2025-02-24

Reason

BMO Capital

Katja Jancic

Price Target

$23 → $25

AI Analysis

2025-02-24

Maintains

Hold

Reason

BMO Capital raised the firm's price target on Ryerson to $25 from $23 and keeps a Market Perform rating on the shares. The company delivered an in-line Q4 adjusted EBITDA, but a better-than-expected outlook, and its earnings in Q1 are anticipated to improve materially sequentially, with further improvement expected in rest of the year, the analyst tells investors in a research note.

About RYI

Ryerson Holding Corporation is a value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. The Company carries a full line of carbon steel, stainless steel, alloy steels, and aluminum, and a limited line of nickel and red metals. These materials are stocked in a number of shapes, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing. The Company also provides a variety of processing services to meet its customers' needs. It also conducts metal processing and distribution operations in China. It has approximately 107 facilities in North America and four facilities in China. The Company offers various value-added processing and fabrication services, such as bending, beveling, blanking, blasting, burning, cutting-to length, drilling, embossing, flattening, forming, grinding, laser cutting, machining, notching, painting, perforating, polishing, punching, rolling, and sawing, others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.