TrueBlue Inc. Implements Shareholder Rights Plan to Safeguard Against Unapproved Takeovers

Reuters
15 May
TrueBlue Inc. Implements Shareholder Rights Plan to Safeguard Against Unapproved Takeovers

TrueBlue Inc. $(TBI)$, a leading provider of specialized workforce solutions, has announced the adoption of a limited duration shareholder rights agreement to protect shareholder interests. The agreement, unanimously approved by the Board of Directors, is designed to deter any entity from acquiring 15% or more of the company's stock without board approval, as evidenced by an unsolicited acquisition proposal from HireQuest, Inc. Under the agreement, if an unapproved entity exceeds this threshold, shareholders (excluding the acquiring entity) can purchase additional shares at a 50% discount. This measure is intended to ensure that any potential control change includes a fair premium for all shareholders. The agreement will be detailed further in a Form 8-K filed with the SEC, and Sidley Austin LLP is advising TrueBlue legally.

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