June 29, 2017 / 4:32 PM / 24 days ago

BRIEF-Synalloy Corp acquires 3 pct ownership in Universal Stainless & Alloy Products

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June 29 (Reuters) - Synalloy Corp :

* Synalloy announces ownership position in Universal Stainless

* Synalloy Corp- Acquired a 3% ownership position in Universal Stainless & Alloy Products, Inc.

* Synalloy Corp- Has presented Universal Stainless Board of Directors with an initial proposal to merge two companies

* Synalloy Corp- Universal Stainless board stated pursuit of business combination with Synalloy "not in best interest of company and its shareholders" Source text for Eikon: Further company coverage:

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