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TravelCenters of America Moves Forward With BP Deal, Rejects Competing Bid

Arko Corp. Made Unsolicited Offer for TravelCenters Last Month
TravelCenters of America shareholders will vote on a proposed merger with BP on May 10. Pictured is a TravelCenters of America location in Denton, Texas. (CoStar)
TravelCenters of America shareholders will vote on a proposed merger with BP on May 10. Pictured is a TravelCenters of America location in Denton, Texas. (CoStar)

TravelCenters of America Inc., which operates 280 gas stations and convenience stores across the United States, is moving forward with a $1.3 billion deal to be bought by BP Products North America Inc., a Houston-based subsidiary of London-based BP PLC.

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