Investigation into Fairness of Olympic Steel's Proposed Sale to Ryerson Holding Corporation

Investigation Overview

Kahn Swick & Foti, LLC (KSF), led by former Louisiana Attorney General Charles C. Foti, Jr., is conducting an investigation into the proposed sale of Olympic Steel, Inc., which trades under the Nasdaq symbol ZEUS, to Ryerson Holding Corporation (NYSE: RYI). This investigation focuses on evaluating whether the financial terms and the sale process are in the best interests of Olympic Steel’s shareholders.

Proposed Transaction Details

According to the terms of the proposed transaction, shareholders of Olympic Steel are set to receive 1.7105 shares of Ryerson common stock for each share they hold in Olympic Steel. Following this exchange, it is estimated that current shareholders of Olympic Steel will own approximately 37% of the merged entity. Given these parameters, KSF's inquiry aims to assess whether this offer accurately reflects the true value of Olympic Steel's assets or whether it represents an undervaluation.

Rationale for the Investigation

The investigation is essential for addressing concerns among shareholders regarding the equity of the sale process. Historically, leveraged acquisitions have led to significant disparities in valuations during similar circumstances. KSF seeks to ensure that the shareholders’ rights are protected and that they receive a fair deal that corresponds with the market value of Olympic Steel.

Charles C. Foti Jr. emphasizes the importance of transparent dealings in such transactions, stating, "Shareholders should ensure they are being treated fairly, particularly during pivotal moments like a sale that may alter their investment significantly."

Call for Shareholder Engagement

KSF is encouraging shareholders to reach out if they possess information that may impact the assessment of the transaction or if they wish to understand their legal rights in this matter. Interested individuals can contact KSF's Managing Partner, Lewis S. Kahn, via phone at 855-768-1857 or through their website at Kahn Swick & Foti.

About Kahn Swick & Foti, LLC

Founded by experienced professionals including former Attorney General Foti, KSF is dedicated to advocating for shareholder rights. The firm has an extensive history of pursuing fair treatment for investors across various industries, and its insights will be pivotal in navigating this proposed transaction. For additional information about KSF, please visit their website: ksfcounsel.com.

Conclusion

As Olympic Steel moves toward this strategic sale, the investigative efforts by KSF represent a crucial step in ensuring that shareholder interests are prioritized. Stakeholders are encouraged to engage actively in this process to safeguard their investments and advocate for fair compensation as the situation develops.