Ryerson, Olympic Steel shareholders approve proposals related to transaction

Ryerson Holding (RYI) and Olympic Steel (ZEUS) announced that the shareholders of Olympic Steel and the stockholders of Ryerson have approved the merger and the related issuance of Ryerson stock, respectively, at their respective Special Meetings. As a result, the closing of the merger is expected to occur on February 13, subject to the satisfaction of the remaining customary closing conditions. Shares of Olympic Steel will cease trading on February 13, and following the closing, Olympic Steel will no longer be listed on the NASDAQ exchange. Under the terms of the merger agreement, upon the closing of the transaction, Olympic Steel will merge with Ryerson on the terms set forth in the merger agreement and Olympic Steel shareholders will be entitled to receive 1.7105 shares of Ryerson common stock per share of Olympic Steel common stock.