Westaff Inc and Koosharem Corp
Westaff Inc and Koosharem Corp., the holding company of Select Staffing, agreed to extend talks over Koosharem's offer to buy Westaff. "There can be no assurance that Select Staffing's proposal will result in a transaction," Westaff said. "Westaff continues to evaluate other alternatives, including continuing its operations as an independent company."
Under the deal proposal, Select would provide first lien debt for shares of Westaff owned by DelStaff LLC, valued at approximately $1.25 per share. DelStaff holds approximately 49.3% of Westaff's common stock. Select would also pay $1.25 cash per share for all other outstanding shares in Westaff.