TrueBlue receives unsolicited acquisition proposal from HireQuest

TrueBlue Inc. (NYSE: TBI) confirmed it received an unsolicited acquisition proposal from HireQuest Inc. for its on-demand business operations, according to a company statement.

The Tacoma, Washington-based workforce solutions provider said its board of directors is reviewing and evaluating the proposal in consultation with independent financial and legal advisors to determine the course of action in shareholders' interests.

The company stated there is no action required from shareholders at this time. TrueBlue has engaged Barclays as financial advisor and Sidley Austin LLP as legal counsel for the evaluation process.

The announcement came in response to recent public comments made by HireQuest regarding a potential transaction between the companies. TrueBlue described the proposal as the "latest unsolicited proposal," suggesting previous overtures may have occurred.

TrueBlue operates as a provider of specialized workforce solutions through brands including PeopleReady, PeopleScout, Staff Management | SMX, Centerline, SIMOS, and Healthcare Staffing Professionals. The company has connected more than 10 million people with work and served over 3 million clients across various industries since its founding.

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