2023-04-03 06:50:52 ET
TravelCenters of America Inc. ( NASDAQ: TA ) scheduled a shareholder meeting for May 10 to vote on the pending acquisition of the company by BP Products North America Inc. The deal is expected to close three business days after shareholders approve the deal at the special meeting.
Under the terms of the pending transaction, BP will acquire all of the outstanding shares of TravelCenters of America for $86.00 per share in cash. The total equity value of the transaction is approximately $1.3B.
Last week, the board with TravelCenters of America confirmed the ARKO proposal is not superior to BP's bid.
For further details see:
TravelCenters of America shareholders to vote on May 10 on buyout by BP