TravelCenters of America Archives - Maritime Shipping News

Arko still pushing to acquire TA, looking to solidify credit standing

17 April 2023

Arko is not giving up in its battle to acquire truck stop giant TravelCenters of America, which has said repeatedly it wants to be bought by oil giant BP.

In a letter sent to TA (NASDAQ: TA) management Monday and filed with the Securities and Exchange Commission, convenience store operator Arko did not increase its bid price of $92 per share, $6 more than the BP offer.

But the language was harsher than in previous communications from Arko to TA since it was disclosed in late March that Arko (NASDA...

https://www.freightwaves.com/news/arko-still-pushing-to-acquire-ta-looking-to-solidify-credit-standing

Arko says it can finance TA acquisition at price higher than BP offer

30 March 2023

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Convenience store operator Arko is not giving up its quest to acquire TravelCenters of America,...

https://www.freightwaves.com/news/arko-says-it-can-finance-ta-acquisition-at-price-higher-than-bp-offer

Check Call: The battle is over

28 March 2023

Welcome to Check Call, our corner of the internet for all things 3PL, freight broker and supply chain. Check Call the podcast comes out every Tuesday at 12:30 p.m. EDT. Catch up on previous episodes here. If this was forwarded to you, sign up for Check Call the newsletter here.

Inside this edition: The battle over broker transparency might finally be over; carrier retention helps in the long term; and the claim for TravelCenters of America gets another player.

2020 was a big...

https://www.freightwaves.com/news/check-call-the-battle-is-over

TA: Arko’s credit rating doesn’t meet requirement for acquisition

28 March 2023

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TravelCenters of America has again rejected the bid of convenience store operator Arko, citing debt...

https://www.freightwaves.com/news/ta-arkos-credit-rating-doesnt-meet-requirement-for-acquisition

‘Acquisitive’ convenience store chain Arko reveals itself as late TA bidder

28 March 2023

A company whose market capitalization isn’t even $1 billion is going up against one of the world’s biggest energy companies to acquire TravelCenters of America.

Convenience store operator ARKO (NASDAQ: ARKO) announced Friday it was the company that made a $92-per-share offer to acquire TA, which has an agreement in place to be sold to BP (NYSE: BP) for $86 per share.

That there was another offer at a higher price was revealed in the TA (NASDAQ: TA) proxy filing with the Securities and Exchange...

Tom Love, co-founder of Love’s Travel Stops, dies at 85

7 March 2023

Tom Love, who co-founded Love’s Travel Stops & Country Stores with his wife in 1964 and grew the company to a family of businesses with more than 600 travel plazas in 42 states, died Tuesday. He was 85.

“Tom Love was a man of conviction who never wavered from the principles of honesty and integrity in the 59 years he spent developing the company he started with his wife, Judy,” Love’s President Shane Wharton said in a news release. “These tenets still guide our company and will as we move...

https://www.freightwaves.com/news/tom-love-co-founder-of-loves-travel-stops-passes-at-85

How dire are electric truck maker Nikola’s finances?

26 February 2023

Nikola Corp. maintains it has enough liquidity to fund the next year of building electric trucks and developing a hydrogen fueling business. But its auditor disagrees, leading to the company’s notice of going concern with the Securities and Exchange Commission.

“If capital is not available to the company when, and in the amounts needed, the company could be required to delay, scale back, or abandon some or all of its development programs and operations, which could materially harm the company’s...

https://www.freightwaves.com/news/how-dire-are-electric-truck-maker-nikolas-finances

Lo que a BP le gusta del AT: buen precio por punto de venta, beneficios medioambientales

18 February 2023

Un día después de la sorprendente noticia de que BP America compra TravelCenters of America, los beneficios de la transición energética para el gigante petrolero internacional quedan más claros.

Y parece que también ha sido un buen negocio, al menos según Joseph Petrowski, una leyenda del mercado de combustibles que ha sido consejero delegado de varios distribuidores de combustible y ahora está afiliado a Brookwood Partners, activo en el sector de las tiendas de conveniencia y los...

https://www.freightwaves.com/news/lo-que-a-bp-le-gusta-del-at-buen-precio-por-punto-de-venta-beneficios-medioambientales

What BP likes in TA: Good price per outlet, environmental benefits

18 February 2023

A day after the jolting news that BP America is buying TravelCenters of America, the energy transition benefits to the international oil giant become clearer.

And it looks like it was a good deal, too, at least according to Joseph Petrowski, a fuels market legend who has been CEO of various fuel distributors and is now affiliated with Brookwood Partners, active in the convenience store and fuels sector.

“I think it’s a great deal for BP,” Petrowski said in an interview with FreightWaves. “They...

https://www.freightwaves.com/news/what-bp-likes-in-ta-good-price-per-outlet-environmental-benefits

El gigante petrolero BP compra la importante cadena de paradas de camiones TravelCenters

16 February 2023

Nota del editor: Esta historia fue actualizada a las 4 p.m. ET el 16 de febrero para incluir información adicional.

TravelCenters of America, que opera paradas de camiones en todo el país bajo la marca TA, va a ser comprada por BP America.

El precio de la adquisición es de aproximadamente 1.300 millones de dólares, u 86 dólares por acción. Las acciones de TA (NASDAQ: TA) cerraron el miércoles a 49,44 dólares por acción.

“El anuncio de hoy de que BP adquiere TA por 86 dólares por acción es el...

https://www.freightwaves.com/news/el-gigante-petrolero-bp-compra-la-importante-cadena-de-paradas-de-camiones-travelcenters

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