TravelCenters of America Stock Surges. It’s Being Bought by BP for $1.3 Billion.

Oil giant 


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.