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June 29 (Reuters) - Universal Stainless & Alloy Products Inc :
* Universal Stainless announces rejection of unsolicited offer from Synalloy Corporation
* Universal Stainless & Alloy Products says "does not see a basis for further discussions with Synalloy regarding unsolicited offer at this time"
* Universal Stainless & Alloy Products - co's board determined that Synalloy's unsolicited offer has "no merit for stockholders of universal stainless" Source text for Eikon: Further company coverage: