We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of TravelCenters of America Inc. (“TravelCenters” or the “Company”) (NASDAQ: TA) in connection with the proposed acquisition of the Company by BP p.l.c. (NYSE: BP). Under the terms of the merger agreement, the Company’s shareholders will receive $86.00 in cash for each share of TravelCenters common stock owned. The transaction is valued at approximately $1.3 billion.
Weiss Law is investigating whether (i) TravelCenters’ board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $86.00 per share merger consideration adequately compensates TravelCenters’ shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.