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Synalloy Corporation has delivered a proposal to the Board of Directors of Universal Stainless & Alloy Products, Inc. to merge the two companies into a new publicly traded company.
“Synalloy Corporation delivered to the Board of Directors of Universal Stainless & Alloy Products, Inc. a proposal whereby Synalloy and USAP would merge the respective companies to form a new publicly traded company.”sec.gov
Summarized from public sources; check the original articles before acting on it.