BP is buying TA

This is no lie. I ordered a pork chop dinner once at a TA. Oh for the love of God, wasn't seasoned, smelled like it was spoiled or something. I still sat and ate it like a retard because I didn't want my nearly $20 to just go to waste. But never again will I make that mistake.

 

"During the engagement with Arko, TA said, it confirmed that Arko plans to finance its proposed $2.4 billion acquisition of TA through an amalgamation of uncommitted funding sources, including by entering into unnegotiated new and expanded credit facilities, entering into unnegotiated sale and leaseback transactions at unrealistic high real estate valuations and using unavailable TA cash."
TA Explores Arko Corp.’s Bid, Moves Forward With bp
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Look at it this way - you're selling your house and have 2 offers, A and B. Offer B is 10% higher, but subject to inspection, appraisal, and financing. B has not even talked to lenders, let alone have a pre-approval letter and states that they plan on immediately taking a HELOC to cover insurance and renovation costs - which they haven't priced out.

Arko's offer was as meaningful as a 6 year old's marriage proposal.

 

My thoughts exactly. It's like you're selling your home and you get two offers: One for $300K in cash and one for $321K financed thru a bank and you accept the lower offer. I know people have said Arko had third party financing but, if I'm a shareholder of T/A and Arko's financing is legit why would I care?!?

 

Maybe because they wanted their money

 

You care because the financing isn't set up yet. It's like putting an offer on a house without a pre-approval letter, with no idea of the insurance costs, and planning on using your down-payment for renovations.

 

You missed the entire. I never said BP is innocent. They were forced to drill where they did because the environmental nuts forced their hand, of course an oil company wants to drill just like a trucking company wants to have the trucks moving. Imagine if a group got enough power to force trucks to only drive on one way cliffs at night without headlights. When the crash occurs of course the driver is at fault but the over regulation and stupidity help to create the problem. BP is not the only crook involved in the deepwater horizon, government and certain woke groups played a large part in creating the disaster.

 

Take it to politics please

 

Sorry, I did not stop to look at what section this is in. I simply responded.

 

Delay the finalizing of the deal with BP for two weeks to let Arko get the expressed bank backing you need. Arko isn’t a small operation and has banking relationships who are in the business of making money by lending it. The turn down by TA’s board of directors seemed pretty reflexive.

Whatever. It’s a done deal now. I don’t expect anything to change. TA will still continue to be managed poorly by Pertchik and BP will manage it like an absentee landlord going forward.

 

Noticed a couple days ago the TA in Russell, IL changed the lot to the ticket/gate system where it's either purchase fuel or $30 worth of stuff in the store, if not ya gotta pay 2 park. The lot was probably 75% empty...

Wonder how many more locations are gonna follow that business model?

Lot's of guys dont like it but, I'm all for it, considering I get the best fuel discounts at TA/Petro. Nothing worse than filling up with 200 gallons only to find all free spots are taken and I have to pay for a reserved spot... Or play no ones home and don't answer the door all night