Arko Stock Price, News & Analysis

ARKO Corp. (Nasdaq: ARKO) will report its first-quarter results for the period ending March 31, 2023, on May 8, 2023, after market close. A conference call to discuss these results is scheduled for May 9, 2023, at 10:00 a.m. Eastern Time. Investors can participate via phone or through a live webcast on the company’s website. ARKO Corp. is recognized as one of the largest operators of convenience stores and fuel wholesalers in the U.S. and owns 100% of GPM Investments, LLC. The company operates across four segments: retail, wholesale, GPM Petroleum, and fleet fueling, providing a diverse range of products and services including prepared foods, snacks, and fuel delivery. The fas REWARDS loyalty program offers customers additional savings on purchases.

TIG Advisors, LLC, a significant shareholder of TravelCenters of America Inc. (TA), owning approximately 4.9%, has urged the TA Board to allow ARKO Corp. access to its data room for a potential acquisition proposal. This request follows ARKO's recent offer and TA's ongoing merger discussions with BP PLC. TIG contends that the board is neglecting its fiduciary duty to prioritize shareholder interests in favor of Service Properties Trust and The RMR Group. TIG emphasizes the need for the board to conduct due diligence on ARKO’s proposal, asserting that this could create greater value for shareholders. They stress that delaying this process would be detrimental to TA and its investors, and support moving forward with the BP transaction only if ARKO's proposal is found inadequate after due diligence.

ARKO Corp has launched its new fas REWARDS app, enhancing customer engagement with exclusive in-app deals, order capabilities, and a virtual wallet. The app features age-verified offers for tobacco and alcohol, a store locator with current gas prices, and a dashboard for tracking rewards. With over 1.3 million members enrolled, users spent an average of $1.4k annually in 2022. The app aims to increase engagement and enrollment, supporting the Buy More, Stack More, Save More program, allowing members to stack savings on fuel purchases. It is available on the APP Store and Google Play.

TravelCenters of America (Nasdaq: TA) has announced a Special Meeting of Shareholders scheduled for May 10, 2023, to approve its acquisition by BP Products North America at $86.00 per share, an 84% premium over its recent trading average. The transaction is valued at approximately $1.3 billion. TA's Board has determined that a proposal from ARKO does not constitute a superior offer due to its conditional financing and sub-investment grade credit rating, as it does not meet the landlord's requirements for property control changes. The acquisition is expected to close shortly after the shareholder meeting, pending necessary approvals.