ARKO Corp. offered $1.4 billion for TravelCenters of America’s chain of 281 travel centers, topping BP’s $1.3 billion offer that TravelCenters of America accepted in February.
ARKO Corp. offered $1.4 billion for TravelCenters of America’s chain of 281 travel centers, topping BP’s $1.3 billion offer that TravelCenters of America accepted in February.
However, TravelCenters of America issued a statement that said ARKO’s proposal to acquire TA is neither superior to the transaction TA previously agreed to with BP Products North America Inc. nor is it likely to lead to a superior proposal. Subject to shareholder and regulatory approval, it and BP expect to close on the sale by the middle of the year.
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