Store operator Arko trumps BP with $1.4 bln offer for TravelCenters of America

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27-03-2023 | 08:25
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Store operator Arko trumps BP with $1.4 bln offer for TravelCenters of America
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Store operator Arko trumps BP with $1.4 bln offer for TravelCenters of America

Convenience store operator Arko Corp (ARKO.O) offered to buy truck stop operator TravelCenters of America Inc. (TA. O) for $1.4 billion, it said on Monday, trumping BP's (BP. L) $1.3 billion offer.

Arko's offer of $92 per share, which it said it made on March 14, is $6 higher than BP's offer made in mid-February, which TravelCenters of America has accepted.

Arko did not say if TravelCenters of America has considered or rejected its offer, but said in its statement it "believes the (TravelCenters) board's decision regarding Arko's proposal was incorrect".

It also urged TravelCenter's board to consider the offer.

The truck refueling company's shares were marginally higher at $86.50 in premarket trading.
 
 

Store

Operator

Arko

BP

Offer

TravelCenters

America

US

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