Cheetah Net Supply Chain shares triple as logistics provider buys rival

Cheetah Net Supply Chain Service

03/12/2024 10:31

** Logistics service provider Cheetah Net Supply Chain
Service's  CTNT.O  shares soar ~208% to $5.79 premarket
    ** Late Monday, CTNT said company will acquire
California-based peer, TW & EW Services Inc, for $1 mln
    ** Deal includes $200,000 in cash and $800,000 in stock -
CTNT
    ** Acquisition will help Cheetah strengthen position as
comprehensive supply chain solutions provider - CTNT
    ** Deal expected to complete on Wednesday - CTNT
    ** As of last close, stock has fallen ~91% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))