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: