Shareholders of TravelCenters of America Inc. have voted to approve the company's sale to BP plc. Ninety-three percent of the total shares approved the sale.
BP plans to acquire all outstanding shares of TravelCenters of America for $86 per share in cash.
The parties expect the deal to close on May 15. At that time, TravelCenters of America will become a wholly-owned indirect subsidiary of BP.
