M&A · Healthcare · Electromedical & Electrotherapeutic Apparatus
Hudson Global, Inc. to acquire Star Equity Holdings, Inc.
Announced May 22, 2025 · Closed Aug 22, 2025
Deal value$7MEV $25M
Premium—To unaffected price
EV / Adj. EBITDA—0.4x EV / Revenue
ConsiderationAll stock$2.25 per share
Transaction
- Acquirer
- Hudson Global, Inc. (HSON)
- Target
- Star Equity Holdings, Inc. (STRR)
- Buyer type
- Strategic
- Offer price per share
- $2.25
- Enterprise value
- $25M
- Status
- Closed Aug 22, 2025
Deal protections
- Break fee (target pays)
- $0.3M · 3.5%
- Reverse fee (buyer pays)
- $0.3M · 3.5%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Houlihan Lokey
- To the target
- Not disclosed
Sector context · Healthcare
- Comparable deals
- 92 in the prior 24 months
- Premium
- Sector median 67.0%
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.5% vs. 3.5% sector median
Timeline
- AnnouncedMay 22, 2025
- Proxy filedJul 23, 2025
- Definitive proxyJul 23, 2025
- Shareholder voteAug 21, 2025
- ClosedAug 22, 2025
Valuation · fairness opinions
Trading comparables$0.34$17.63
Offer $2.25
Implied value per Star Equity Holdings, Inc. share by analysis · DCF discount rate 9.1%–11.1%.