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Westaff, Inc.
Westaff Receives Proposal from Select Staffing
January 18th, 2009
Westaff, Inc. (NASDAQ:WSTF), a leading provider of staffing services, announced that it has received a proposal from Koosharem Corporation (as Select Staffing) under which Select Staffing would acquire all of the outstanding shares of Westaff common stock not owned by DelStaff, LLC for $1.25 per share in cash and all of the shares owned by DelStaff, LLC (which shares represent approximately 49.3% of the outstanding shares of Westaff common stock) for first lien debt issued by Select Staffing having a value roughly equivalent to $1.25 per share. Select Staffing’s proposal is subject to significant conditions, including the completion of due diligence and the satisfactory negotiation and...
Source: Pharma Investments, Ventures & Law Weekly (2009-01-18)
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