BP is buying TA

BP stations are hit and miss. I think because it’s just a brand. I would assume there’s a ton of different store owners, hence the good or bad.

 

It comes down to financing- the other offer is dependant in significant 3rd party loans which have not been secured yet, whereas bp's funding is in place.

 

Like gentleroger stated, it's not the amount of the offer but the certainty of the offer. I'm sure BP has unlimited funds available without 3rd party financing needed to close the deal.

 

TA still has sh## food. It looks like they're trying to copy Flying J with the food selection in their newly remodeled stores but it's way overpriced and it's all been sitting on the shelves for days.

 

As of 13:30 today it's now a done deal - British Petroleum owns T/A.

72% of shares outstanding voted to take B.P.'s lower offer.

TravelCenters of America Stockholders Approve Pending BP Transaction

 

Kinda crazy they didnt even entertain the arko offer..especially being that it was a much higher bid

 

Sirscrapntruckalot -

 

I agree BP has a lousy track record but the Deepwater Horizon spill is a textbook example of pushing and pushing to the point where the only place allowed to build was in the exact spot they should not build. If they had been allowed to do it close to shore they could have contained the spill very quickly but the environmental wack jobs forced it so far off shore and so deep that it was doomed to fail at some point. Again BP is not innocent but also not the only one wrong when it comes to the Deepwater Horizon failure.

 

Sorry but Deepwater is where the big oil is these days. It takes Big money to drill in deepwater.
The oil company's bid on the blocks in the gulf to drill on. Nobody is forcing them to drill in deep water.
BP is also one of the worst docks to deliver/ pick up from in the port of Fourchon. Their rates are chheeep.
I will give them two things they are good at Slow and Safe. BP no thanks..