TrueBlue board unanimously rejects unsolicited buyout proposal from HireQuest

TrueBlue (TBI) announced that its Board of Directors unanimously rejected an unsolicited, non-binding proposal from HireQuest regarding a potential all-stock proposal to acquire all common shares of TrueBlue at $7.50 per share. Following careful evaluation and consistent with its fiduciary duties, the Board declined HireQuest’s proposal. Prior to this latest offer, in February 2025, the Board previously considered, and rejected, an unsolicited, non-binding proposal from HireQuest at a price of up to $12.30 per share of TrueBlue. HireQuest’s latest proposal to acquire TrueBlue at $7.50 per share, which was received on May 9, 2025, represents an opportunistic attempt to acquire the company and significantly undervalues the business and its potential. The Board is committed to maximizing value for all shareholders and believes that the proposed transaction does not meet these objectives. The Board continues to believe that the proposed transaction is not in the best interests of the company’s shareholders. TrueBlue remains focused on executing its strategic plan and creating long-term value for its shareholders. The company does not intend to comment further on this matter unless and until it determines that additional disclosure is appropriate or required.