MingZhu Logistics Expects To Move Forward With Alternative Options After Mutually Agreeing With Oxylus Global To Terminate Proposed Acquisition
Portfolio Pulse from Benzinga Newsdesk
MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) and Oxylus Global Inc have mutually agreed to terminate their proposed acquisition due to regulatory approval uncertainties. MingZhu plans to explore alternative options for business diversification and growth.
September 12, 2024 | 1:08 pm
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MingZhu Logistics and Oxylus Global have terminated their acquisition agreement due to regulatory approval issues. MingZhu plans to pursue alternative growth strategies.
The termination of the acquisition deal with Oxylus Global removes uncertainty around regulatory approvals, which could stabilize YGMZ's stock. However, the impact is neutral as the company plans to pursue other growth strategies, maintaining investor confidence.
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