Star Equity (STRR), a 5.4% stockholder of GEE Group (JOB), announced that it has presented GEE Group’s board with an indication of interest for the potential acquisition of the company. The indication of interest contemplates a stock-for-stock transaction whereby Star would acquire 100% of the outstanding shares of the company’s common stock for 30c per share, using Star’s publicly listed 10% Series A cumulative perpetual preferred stock, valued based on its liquidation preference of $10.00 per share.
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