TravelCenters of America Inc. (TA) said Thursday it has agreed to be acquired by BP Plc (BP.LN) for $86 a share in cash, or about $1.3 billion. The price is equal to an 84% premium over the average trading price of the stock in the 30 days ended Feb. 15. The deal is expected to close by mid-year, 2023, and two of the company's main shareholders -- RMR Group $(RMR)$, with a 4.1% stake, and Service Properties Trust (SVC) with 7.8% of the stock -- have agreed to vote their shares in favor of it. "Following the implementation of TA's turnaround plan and several quarters of improved operating performance, TA received unsolicited interest to acquire the company," TravelCenters said in a statement. It then hired financial and legal advisers to review a potential sale of the company that culminated in today's announcement, it added. The stock rose 1.6% premarket and has gained 21% in the last 12 months, outperforming the S&P 500 , which has fallen 7%.
-Ciara Linnane
For more from MarketWatch: http://www.marketwatch.com/newsviewer
(END) Dow Jones Newswires
February 16, 2023 08:11 ET (13:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。