TrueBlue Rejects Takeover Proposal From HireQuest

(RTTNews) - TrueBlue (TBI), a provider of specialized workforce solutions, on Tuesday announced that its Board of Directors unanimously rejected an unsolicited proposal from HireQuest, Inc., regarding a potential all-stock proposal to acquire all common shares of TrueBlue at $7.50 per share.

The company said it declined HireQuest's proposal following careful evaluation and consistent with its fiduciary duties.

Before this latest offer, in February 2025, the Board previously considered and rejected an unsolicited, non-binding proposal from HireQuest at a price of up to $12.30 per share of TrueBlue.

HireQuest's latest proposal to acquire TrueBlue at $7.50 per share, which was received on May 9, 2025, represents an opportunistic attempt to acquire the Company and significantly undervalues the business and its potential, the company said.

The board is committed to maximizing value for all shareholders and believes that the proposed transaction does not meet these objectives.