Business
TravelCenters of America Stock Surges. It’s Being Bought by BP for $1.3 Billion.
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Oil giantÂ
BP
announced Thursday it was acquiring
TravelCenters of America
one of the largest servicing centers offering truck repairs and maintenance services.
BP
(ticker: BP) will acquire
TravelCenters of America
(TA) for $86 a share, representing an 84% premium to the average trading price of TravelCenters for the 30 days ended Wednesday. Total equity value of the deal was roughly $1.3 billion.
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