HireQuest proposes acquisition of TrueBlue for $7.50/share in stock, 61% premium

HireQuest, Inc.

Offer of $7.50 per share in HireQuest stock, representing 61% premium over TrueBlue's May 12 close of $4.65.
Proposal is unsolicited; HireQuest says TrueBlue board has refused engagement for nearly two years.
HireQuest has completed 15 prior staffing acquisitions; this would be the 16th.
Alternative: HireQuest willing to buy TrueBlue's PeopleReady subsidiary for up to $150M cash.
Consideration is all-stock with no financing contingency; expected to qualify as tax-free reorganization.

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