HireQuest proposes $7.50/share all-stock acquisition of TrueBlue, a 61% premium

HireQuest, Inc.

Offers $7.50/share (61% premium over May 12 close of $4.65) in all-stock, no financing contingency.
Proposal follows nearly two years of rebuffed attempts; letter sent May 9, made public May 13.
HireQuest has completed 15 prior acquisitions; plans to convert TrueBlue branches to franchise model.
Alternative offer: acquire PeopleReady subsidiary for up to $150M cash if TrueBlue prefers.
HireQuest willing to add cash component and increase price if negotiated deal is reached.

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