HireQuest Makes Premium Buyout Offer for TrueBlue

Dow Jones

May 13, 2025

By Adriano Marchese

HireQuest on Tuesday said it has made yet another proposal to buy out recruitment firm TrueBlue at a premium.

Goose Creek, S.C.-based HireQuest has offered TrueBlue's board a price of $7.50 a share, which represents a 61% premium to the TrueBlue's Monday closing price of $4.65, as well as 67% and 45% premiums over the 30- and 60-day volume-weighted average share price, respectively.

TrueBlue's stock is down about 45% since the start of the year, and it has declined 59% over the past 52 weeks. In premarket trading, shares rose 23% to $5.75, while shares of Tacoma, Wash.-based HireQuest were up 0.2% to $10.21.

HireQuest said it has sought to buy TrueBlue for nearly two years and has continually been rebuffed by management.

"[We] would like nothing more than to do a friendly, negotiated deal that could benefit everyone," HireQuest Chief Executive Rick Hermanns said.

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

(END) Dow Jones Newswires

May 13, 2025 09:25 ET (13:25 GMT)

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