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View All NewsWestaff shareholders OK Select deal
Westaff Inc. (NASD: WSTF) announced that shareholders approved its sale to Koosharem Corp., which does business as Select Staffing, during a special meeting Tuesday. The proposed deal is expected be closed this week pending other conditions in the agreement. Those conditions include receipt by Select Staffing of financing of $28 million to replace a letter of credit in favor of The Travelers Indemnity Company outstanding under Westaff's financing agreement.
It was also announced this week that Select had struck deals to acquire Butler International (OTCBB: BUTL.PK), an engineering services and staffing firm, and the Temporary Placement Services Inc. division of Global Employment Holdings Inc. (OTCBB: GEYH.OB).