Arko Reveals It's A Rival Bidder For TravelCenters Of America -- MarketWatch

Dow Jones

Mar 27, 2023

Arko Corp. $(ARKO)$ on Monday disclosed that it was the company that submitted a rival offer of $92 a share for TravelCenters of America Inc. (TA). TravelCenters of America made the $92 offer public in a proxy filed last week, but didn't name Arko Corp., an Arko spokesperson told MarketWatch in an email. Arko said it issued a letter urging TravelCenters of America to seriously consider its offer, which is higher than the accepted price of $86 a share from BP Plc (BP.LN) on Feb. 16 that values the company at $1.3 billion. Arko stock is up 0.7% and TravelCenters stock is up 0.8%. Arko stock has fallen 3.6% in 2023, compared to a rise of 3.7% by the S&P 500 , while the Nasdaq is about flat for the year. TravelCenters stock is up 94% so far in 2023 with a boost from BP's bid. TravelCenters has said it expects to close the transaction by mid-year 2023, subject to shareholder and regulatory approval.

-Steve Gelsi

For more from MarketWatch: http://www.marketwatch.com/newsviewer

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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March 27, 2023 10:58 ET (14:58 GMT)

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(TA).  TravelCenters of America made the $92 offer public in a proxy filed last week, but didn't name Arko Corp., an Arko spokesperson told MarketWatch in an email. Arko said it issued a letter urging TravelCenters of America to seriously consider its offer, which is higher than the accepted price of $86 a share from BP Plc (BP.LN) on Feb. 16 that values the company at $1.3 billion. Arko stock is up 0.7% and TravelCenters stock is up 0.8%. Arko stock has fallen 3.6% in 2023, compared to a rise of 3.7% by the S&amp;P 500 , while the Nasdaq is about flat for the year. TravelCenters stock is up 94% so far in 2023 with a boost from BP's bid.  TravelCenters has said it expects to close the transaction by mid-year 2023, subject to shareholder and regulatory approval. \n</p>\n<p>\n  -Steve Gelsi \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n  This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 27, 2023 10:58 ET (14:58 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4191","symbol_name":"家用电器","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2322420238","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2322420238","pubTimestamp":1679929080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Arko Corp. $(ARKO)$ on Monday disclosed that it was the company that submitted a rival offer of $92 ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4191":"家用电器","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4201":"综合性石油与天然气企业","TERN":"Terns Pharmaceuticals, Inc.","BK4214":"汽车零售","BP":"英国石油","BK4539":"次新股","BK4007":"制药","ARKO":"ARKO Corp","CRCT":"Cricut, Inc."},"translate_title":"Arko透露它是美国旅游中心的竞争对手——MarketWatch","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TERN":0.61,"BP":0.9,"CRCT":0.61,"TA":0.9,"ARKO":0.9},"content_text":"Arko Corp. $(ARKO)$ on Monday disclosed that it was the company that submitted a rival offer of $92 a share for TravelCenters of America Inc. 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