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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