09:46 AM EDT, 05/19/2025 (MT Newswires) -- HireQuest ( HQI ) said Monday it's "disappointed" with the TrueBlue ( TBI ) board's rejection of its proposal to buy TrueBlue ( TBI ) for $7.50 per share.

The company said it has filed a merger presentation with the US Securities and Exchange Commission and is encouraging TrueBlue's ( TBI ) shareholders to review it.

HireQuest ( HQI ) Chief Executive Rick Hermanns said the company is open to potentially increasing its offer and adding a material cash component, although it believes that it's $7.50 per share offer represents a "compelling" premium and is fair.

TrueBlue ( TBI ) said Wednesday it adopted a limited-duration shareholder rights plan, or "poison pill," to protect investor interests in response to HireQuest's ( HQI ) takeover offer. TrueBlue ( TBI ) said the plan, which expires May 13, 2026, would prevent any group from gaining control without paying a fair premium or providing the board with enough time to act.

TrueBlue ( TBI ) didn't immediately respond to a request for comment by MT Newswires on Monday.

Shares of HireQuest ( HQI ) were down 1.7% in early trading Monday, while TrueBlue ( TBI ) stock is up 1.3%.