WESTLAKE, Ohio, May 16, 2023 /PRNewswire/ -- TravelCenters of America Inc. (NASDAQ:TA), the nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, announced yesterday the completion of the all-cash acquisition of TA by BP Products North America Inc. Notice of Intent to Delist and Deregister Senior Notes (NASDAQ:TANNI, TANNL, TANNZ))) In connection with the closing of the transaction, TA announced today that it has notified The Nasdaq Stock Market LLC ("Nasdaq") of its intention to voluntarily delist from the Nasdaq Global Sele

Adds a network of around 280 travel centers, strategically located on major highways across US; complementing bp's US convenience and mobility business.Almost doubles bp's global convenience gross margin.Brings growth opportunities for four of bp's five transition growth engines including EV charging via bp pulse, convenience, biofuels/ renewable natural gas (RNG) and, later, hydrogen. Adds EBITDA immediately, expected to grow to around $800m by 2025, underpinned by investment, integration value and synergies. HOUSTON, May 15, 2023 /PRNewswire/ -- Today BP Products North America Inc., a wholly owned indirect subsidiary of BP p.l.c. (NYSE:BP), completed its $1.3 billion acquisition of TravelC

Transaction Expected to Close on May 15, 2023 TravelCenters of America Inc. (NASDAQ:TA), the nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, today announced that, at its Special Meeting of Stockholders held earlier today, TA stockholders voted to approve TA's merger with and into a wholly-owned indirect subsidiary of BP p.l.c. (NYSE:BP). As previously announced, under the terms of the merger agreement between TA and BP's wholly-owned subsidiary, BP's wholly-owned subsidiary will acquire all of the outstanding shares of TA common stock for $86.00 per share in cash. The transaction price represents an 84% premium to TA's average trad

BP Transaction is in TA Shareholders' Best Interests and Maximizes Shareholder Value TravelCenters of America Inc. (NASDAQ:TA) today announced that leading independent proxy advisory firms Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis") have recommended that TA shareholders vote "FOR" the previously announced all-cash acquisition of TA by BP Products North America Inc. ("BP") in advance of TA's upcoming Special Meeting of Shareholders scheduled for May 10, 2023. As previously announced, under the terms of the pending transaction, BP will acquire all of the outstanding shares of TA common stock for $86.00 per share in cash. TA shareholders of record as of

TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the quarter ended March 31, 2023. First Quarter 2023 Highlights: Net loss of $6.3 million as compared to net income of $16.3 million, and adjusted net loss of $3.4 million as compared to $15.2 million in the prior year period. Adjusted EBITDA of $32.0 million decreased $23.4 million or 42.2%, as compared to the prior year period. Adjusted EBITDAR was $96.7 million. Cash and cash equivalents of $385.9 million and availability under TA's revolving credit facility of $158.2 million for total liquidity of $544.1 million as of March 31, 2023. The following table presents detailed results for TA's

ARKO Says its Plan is to Finance $2.4 Billion Purchase Through an Amalgamation of Uncommitted Funding Sources; ARKO Has No Plans to Obtain a Committed Bridge Loan ARKO Confirms Insurance Policy Discussions are Preliminary and Cost of Insurance Unknown Board Unanimously Recommends Shareholders Vote FOR the Pending Merger with BP, with Closing Scheduled for May 15 TravelCenters of America Inc. (NASDAQ:TA) today announced that after TA requested and received a contractual waiver from BP Products North America Inc. ("BP"), TA engaged with ARKO Corp. ("ARKO") to diligence its proposal. Following this engagement, TA's Board of Directors reaffirmed that ARKO's proposal is neither a superior

Board Must Thoroughly Evaluate All TA Acquisition Proposals to Ensure Shareholders Receive Maximum Value for the Company They Own Believes Board is Prioritizing the Interests of Service Properties Trust and The RMR Group Above TA Shareholders TIG Advisors, LLC ("TIG"), an investment adviser which owns approximately 4.9% of TravelCenters of America Inc. (NASDAQ:TA), is today sending a letter to the TA Board of Directors (the "Board") regarding ARKO Corp.'s (NASDAQ:ARKO) recent proposal to acquire TA as well as TA's proposed merger with BP PLC (NYSE:BP). TIG believes it is the best interests of all TA shareholders for the Board to immediately permit ARKO access to TA's data room so that i

Achieves 34.7% Contraction in Greenhouse Gas Emissions With 28.7% Power Usage and 15.1% Water Usage Reductions Compared with 2019 Baseline Formally Adopts New Governance Policies to Reflect Longtime Practices 25% Year-over-year Increase in Properties Achieving LEED Certification Establishes Employee Programs Investing in Underrepresented Groups The RMR Group (NASDAQ:RMR) today announced the publication of its 2022 Annual Sustainability Report, which outlines the Environmental, Social and Governance (ESG) strategies, practices and industry recognition of RMR and its clients, including Service Properties Trust (NASDAQ:SVC), Diversified Healthcare Trust (NASDAQ:DHC), Office Properties Income

Shareholder Meeting to Approve BP Transaction is May 10, 2023, With Closing Expected by May 15, 2023 TravelCenters of America Inc. (NASDAQ:TA) today announced that the 30-day waiting period imposed by the Hart-Scott-Rodino Act ("HSR Act") in connection with its pending acquisition by BP Products North America Inc. ("BP") expired at 11:59 p.m. on April 10, 2023, without action by the Federal Trade Commission. The Special Meeting of Shareholders to approve the pending acquisition of TA by BP, is scheduled for Wednesday, May 10, 2023, at 9:30 a.m. Eastern Time. TA shareholders of record as of the close of business on March 23, 2023 will be eligible to vote at the Special Meeting. Subject t

Schedules Shareholder Meeting for BP Transaction for May 10, 2023, With Closing Expected Shortly Thereafter ARKO Proposal Does Not Constitute a Superior Proposal, Including Because of its Conditional and Uncommitted Financing and its Sub-Investment Grade Credit Rating TravelCenters of America Inc. (NASDAQ:TA) today announced that it filed its definitive proxy statement with the Securities and Exchange Commission ("SEC") in connection with the pending acquisition of TA by BP Products North America Inc. ("BP"). Under the terms of the pending transaction, BP will acquire all of the outstanding shares of TA common stock for $86.00 per share in cash. The transaction price represents an 84%

The Benchmark Company initiated coverage of TravelCenters of America with a rating of Buy and set a new price target of $65.00

B. Riley Securities reiterated coverage of TravelCenters of America with a rating of Buy and set a new price target of $60.00 from $62.00 previously

RBC Capital reiterated coverage of TransAlta with a rating of Outperform and set a new price target of $17.00 from $14.00 previously

BMO Capital downgraded TravelCenters Of America from Outperform to Market Perform and set a new price target of $60.00 from $44.00 previously

BMO Capital upgraded TransAlta from Market Perform to Outperform and set a new price target of $14.50 from $12.00 previously

Credit Suisse upgraded TransAlta from Neutral to Outperform

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TravelCenters of America Inc. (NASDAQ:TA) announced the results of its 2022 Annual Meeting of Stockholders, which was held today, as follows: Lisa Harris Jones was re-elected as an Independent Director. The final tabulation of the percentage of stockholders' votes cast for this Independent Director is as follows: Independent Director Percentage of Shares Voted For Lisa Harris Jones 59.0% Rajan C. Penkar was re-elected as an Independent Director. The final tabulation of the percentage of stockholders' votes cast for this Independent Director is as follows: Independent Director Percentage of Shares Voted For Rajan C. Penkar 72.4% Stockholde

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced the results of its 2021 Annual Meeting of Stockholders, which was held earlier today, as follows: Barbara D. Gilmore was re-elected as an Independent Director. The final tabulation of the percentage of stockholders’ votes cast for this Independent Director is as follows: Independent Director Percentage of Shares Voted For Barbara D. Gilmore 71.5% Elena B. Poptodorova was re-elected as an Independent Director. The final tabulation of the percentage of stockholders’ votes cast for this Independent Director is as follows: Independent Director Percentage of Shares Vote

TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the quarter ended March 31, 2023. First Quarter 2023 Highlights: Net loss of $6.3 million as compared to net income of $16.3 million, and adjusted net loss of $3.4 million as compared to $15.2 million in the prior year period. Adjusted EBITDA of $32.0 million decreased $23.4 million or 42.2%, as compared to the prior year period. Adjusted EBITDAR was $96.7 million. Cash and cash equivalents of $385.9 million and availability under TA's revolving credit facility of $158.2 million for total liquidity of $544.1 million as of March 31, 2023. The following table presents detailed results for TA's

Net Loss of $(0.19) Per Common Share 159% Increase in Normalized FFO to $0.44 Per Common Share 27% Increase in Adjusted EBITDAre to $150.5 Million Completes $610.2 Million Secured Financing Agrees to Amend Lease Terms upon Completion of BP's Acquisition of TravelCenters of America Inc. Service Properties Trust (NASDAQ:SVC) today announced its financial results for the quarter ended December 31, 2022. Todd Hargreaves, President and Chief Investment Officer of SVC, made the following statement: "We are encouraged by the improved hotel fundamentals that we experienced throughout 2022 and expect that further progress will occur in 2023. Comparable hotel RevPAR for the fourth quarter incr

TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the three months and year ended December 31, 2022. Fourth Quarter 2022 Highlights: Net income of $46.8 million increased by $34.0 million, or 266.0%, and adjusted net income of $44.6 million improved by $31.4 million, or 238.1%, as compared to the prior year period. Adjusted EBITDA of $99.2 million increased by $46.3 million, or 87.5%, as compared to the prior year period. Adjusted EBITDAR was $164.2 million. Cash and cash equivalents of $416.0 million and availability under TA's revolving credit facility of $166.0 million for total liquidity of $582.0 million as of December 31, 2022. The following ta

Company Delivers Continued Financial Improvement Over Prior Year Period $37.0 Million in Net Income Improved by $14.8 Million, or 67% $2.49 in Net Income Per Share Improved by $0.97 $88.6 Million in Adjusted EBITDA Increased by $23.4 Million, or 36% TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the quarter ended September 30, 2022. Jonathan M. Pertchik, TA's Chief Executive Officer, made the following statement regarding the 2022 third quarter results: "TA delivered another strong quarter, demonstrating continued resilience and strength in our business resulting in a 67% increase in net income and a 36% improvement in Adjusted EBITDA. TA has completed

TravelCenters of America Inc. (NASDAQ:TA) today announced that it will issue a press release containing its third quarter 2022 financial results after the Nasdaq closes on Tuesday, November 1, 2022. On Wednesday, November 2, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results. The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior t

Company Outperforms Over Prior Year Period $64.0 Million in Net Income Improved by $35.0 Million, or 121% $4.31 in Net Income Per Share Improved by $2.29 67% Increase in Adjusted EBITDA to $122.8 Million TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the quarter ended June 30, 2022. Jonathan M. Pertchik, TA's Chief Executive Officer, made the following statement regarding the 2022 second quarter results: "TA has outperformed for another quarter on key financial measures reinforcing the resilience and strength of its business model. For the second quarter, net income improved by 121%, or to $4.31 per share, and Adjusted EBITDA increased by 67% over the

TravelCenters of America Inc. (NASDAQ:TA) today announced that it will issue a press release containing its second quarter 2022 financial results after the Nasdaq closes on Monday, August 1, 2022. On Tuesday, August 2, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results. The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the

$16.3 Million in Net Income Improved by $22.0 Million $1.10 in Net Income Per Share Improved by $1.50 93.5% Increase in Adjusted EBITDA to $55.4 Million 7.1% Increase in Nonfuel Gross Margin to $295.3 Million TravelCenters of America Inc. (NASDAQ:TA) today announced financial results for the quarter ended March 31, 2022. Jonathan M. Pertchik, TA's Chief Executive Officer, made the following statement regarding the 2022 first quarter results: "TA's strong first quarter resulted in substantial improvement in net income and adjusted EBITDA over the prior year quarter demonstrating continued progress in executing our transformation plan and success in driving top line growth while keeping co

TravelCenters of America Inc. (NASDAQ:TA) today announced that it will issue a press release containing its first quarter 2022 financial results after the Nasdaq closes on Monday, May 2, 2022. On Tuesday, May 3, 2022 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results. The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the schedul

Petro Raphine Expected to Be One of Largest Travel Centers in the U.S. with Nearly 900 Truck Parking Spaces TravelCenters of America Inc. (NASDAQ:TA) today announced that it has completed the previously announced acquisition of two travel center locations for $45 million. Located along the Interstate 81 corridor in Virginia, Petro Raphine and TA Lexington have been successful TA franchise locations since 2011. TA expects to realize significantly more cashflow from owning these locations than as franchise locations and forecasts these locations will generate approximately $9.0 million of site-level EBITDA in 2023. The Petro Raphine site is currently under renovation to add 170 new truck pa

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