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Joele Frank handles Travel Centers of America as the nation’s biggest truck stop/convenience store chain gets acquired by British energy giant BP in a deal pegged at $1.3B.
BP is shelling out $86 cash per share for TA, which represents a whopping 84 percent premium over its 30-day average trading priced ended Feb. 15.
TA CEO Jonathan Pertchik said BP’s offer follows “the successful implementation of our turnaround and strategic plans,” which includes the launch of the eTA alternative fuels program.
The Westlake, OH-based company posted a 54.7 percent revenue boost to $8.2B during the nine-month period ended Sept. 30. Net income soared 158.4 percent to $117.2M.
TA, which operates 281 truck stops in 44 states, had received unsolicited takeover bids from companies other than BP.
Joele Frank, Wilkinson Brimmer Katcher has Andrew Segel and Jack Kelleher representing TA.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
