TrueBlue Turns Down HireQuest's $105M Offer for On-Demand Unit

Dow Jones

05/27

By Adriano Marchese

TrueBlue rejected an unsolicited $105 million cash offer from HireQuest to buy the on-demand segment of its PeopleReady business, saying the bid undervalues a core asset.

TrueBlue, a staffing and workforce-solutions company, said Wednesday that its board has unanimously rejected the nonbinding proposal to buy the on-demand business, saying the offer undervalues one of its core strategic assets that it says is seeing increased demand and strong momentum, despite challenging market conditions.

The offer marks the second HireQuest approach that TrueBlue has turned down. Last year, the company's board rejected an unsolicited, nonbinding proposal for HireQuest to acquire all of TrueBlue.

TrueBlue's board said the company plans to enhance the sales function, expand share in what it considers attractive end markets, and unlock efficiencies with technology, and said these plans would together create greater value in the long term than what HireQuest proposed.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 27, 2026 08:43 ET (12:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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