India, May 13 -- TrueBlue, Inc. (TBI) shares surged 23.66 percent to $5.75 on Tuesday after the company announced its Board of Directors had unanimously rejected an unsolicited all-stock acquisition proposal from HireQuest, Inc.
The stock opened at $5.79 and reached a high of $6.09, with a low of $5.51. Volume soared to 3.19 million shares, well above the average of 269,000. TBI has traded between $3.45 and $12.29 over the past 52 weeks.
The offer, received on May 9, sought to acquire TrueBlue at $7.50 per share, which the Board deemed opportunistic and undervaluing the business. This marks the second such rejection, following a previous $12.30 per share offer in February 2025.
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