Star Equity Holdings, Inc. (STRR) entered a merger agreement on May 21, 2025, to merge into Hudson Global, Inc. (HSON) in an all-stock deal valued at $27.87 million.
Under the terms of the agreement, Hudson will acquire all the outstanding common and preferred shares of Star, issuing 0.23 shares of Hudson common stock for each share of Star common stock, representing a per-share price of $2.22, which is at a 2.30% premium from the stock’s last close.
Under the merger, expected to close in the second half of 2025, Star will merge with and into a wholly owned subsidiary of Hudson to form “NewCo”. Hudson shareholders will own approximately 79% of NewCo, while Star shareholders will hold around 21% of NewCo’s estimated 3.49 million outstanding shares.
Star Equity is a diversified holding company based in Old Greenwich, Connecticut, with operations across healthcare, construction, energy services, and investments.
Hudson is a global talent solutions provider based in Old Greenwich, Connecticut, offering customized recruitment process outsourcing (RPO) and workforce solutions to organizations across the Americas, Asia Pacific, and Europe.
Following the completion of the merger, NewCo will operate through four reporting segments: Building Solutions (including KBS Builders, EdgeBuilder-Glenbrook, and Timber Technologies), Business Services (Hudson RPO), Energy Services (Alliance Drilling Tools), and Investments.
NewCo’s board of directors is expected to include three independent directors from each of Hudson and Star, along with Jeff Eberwein. The management team will be led by Hudson CEO Jeff Eberwein as CEO and Star CEO Rick Coleman as COO.
Star Equity was advised by Oberon Securities on financial matters and Littman Krooks on legal matters, while Hudson Global received financial advice from Houlihan Lokey and legal counsel from Morgan Lewis.
For in-depth details about the M&A transaction, please visit the Deal Metrics page at:
Deal Metrics for the acquisition of Star Equity Holdings, Inc. (STRR) by Hudson Global, Inc. (HSON)
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Editor’s Note: Baranjot Kaur contributed to this article