TrueBlue Adopts Limited Duration Shareholder Rights Agreement
TrueBlue (NYSE:TBI), a leading provider of specialized workforce solutions, today announced that its Board of Directors (the "Board") has unanimously resolved to adopt a limited duration shareholder rights agreement (the "Rights Agreement") to protect shareholder interests.
The Rights Agreement is in response to the unsolicited proposal from HireQuest, Inc. (NASDAQ:HQI) to acquire all common stock of TrueBlue at $7.50 per share. The Rights Agreement is intended to reduce the likelihood that any entity, person or group is able to gain control of TrueBlue through open market accumulation without paying all shareholders an appropriate control premium or providing the Board with sufficient opp
