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Synalloy Corporation acquired a 3% ownership stake in Universal Stainless & Alloy Products and presented an initial merger proposal to Universal Stainless's board on June 29, 2017. The proposal was rejected by Universal Stainless's board.
“We believe that a combination of Synalloy and Universal Stainless offers immediate as well as future value to both shareholder groups.”ir.ascentco.com
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