# Synalloy acquires 3% stake in Universal Stainless and proposes merger

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.

- Type: Acquisition
- Announced: 2017-06-29
- Where: United States
- Status: announced
- Products: stainless steel, nickel alloys, premium alloy products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Synalloy Corporation](https://endata.com/companies/20673.md) (acquirer)
- [Universal Stainless & Alloy Products](https://endata.com/companies/25244.md) (target)

## Sources

- [ir.ascentco.com](https://ir.ascentco.com/sec-filings/all-sec-filings/content/0000095953-17-000061/ex991-announcementofusapow.htm), 2017-06-29: "We believe that a combination of Synalloy and Universal Stainless offers immediate as well as future value to both shareholder groups."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.