BUZZ-Cheetah Net Supply Chain shares triple as logistics provider buys rival

Reuters2024-12-03

** Logistics service provider Cheetah Net Supply Chain Service's 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;))

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