TrueBlue Rejects HireQuest's $105 Million Acquisition Proposal
TrueBlue (TBI) announced that its Board of Directors has unanimously rejected the unsolicited, non-binding proposal from HireQuest (HQI) to acquire the On-Demand segment of TrueBlue's PeopleReady business for $105 million in cash. As previously disclosed last year, the Board considered, and rejected, an unsolicited, non-binding proposal from HireQuest to acquire all of TrueBlue's outstanding shares. HireQuest's latest proposal to acquire the On-Demand segment of the PeopleReady business, which was received on May 12, 2026, "materially undervalues a core strategic asset of TrueBlue that is experiencing increased demand and strong momentum, despite challenging market conditions... The Board is confident that the Company's plan to enhance the sales function, expand share in attractive end markets, and unlock efficiencies with technology and operational excellence will enable TrueBlue to realize long-term sustainable value in excess of what HireQuest has proposed. The Company is entering its fourth consecutive quarter of growth, and the Board and management team see significant potential ahead," the company said.