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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 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.