ARKO Corp. Negotiates Enhanced Value for Stockholders in Final Payment for TEG Acquisition [Yahoo! Finance]
ARKO Corp. (ARKO)
Company Research
Source: Yahoo! Finance
convenience store operators in the United States, announced today that it has negotiated improved deferred payment terms and value related to the Company's previously reported acquisition of the assets of Transit Energy Group and its affiliates (“TEG”). As previously disclosed, on March 1, 2023, the Company closed on the acquisition from TEG of 135 convenience stores and gas stations, contracts to supply fuel to 181 dealer locations, and certain other assets. The purchase agreement originally provided for a total purchase price of approximately $370 million plus the value of inventory, of which $50 million was deferred and payable in two annual payments of $25 million on the first and second anniversaries of the closing, which ARKO could elect to pay in either cash or, subject to certain conditions, shares of ARKO's common stock. Pursuant to the original asset purchase agreement, on March 1, 2024, ARKO issued 3,417,915 shares of ARKO common stock to TEG (the “First Installment Sha
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ARKO
News
- ARKO to Report First Quarter 2024 Financial Results on May 7, 2024 [Yahoo! Finance]Yahoo! Finance
- ARKO to Report First Quarter 2024 Financial Results on May 7, 2024GlobeNewswire
- Arko Corp. (NASDAQ: ARKO) had its price target lowered by analysts at Wells Fargo & Company from $7.00 to $5.00. They now have an "equal weight" rating on the stock.MarketBeat
- ARKO Corp. Subsidiary to Open New Handy Mart Store in Newport, North Carolina [Yahoo! Finance]Yahoo! Finance
- ARKO Corp. Subsidiary to Open New Handy Mart Store in Newport, North CarolinaGlobeNewswire
ARKO
Earnings
- 2/27/24 - Miss
ARKO
Sec Filings
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form ARS/A
- 4/19/24 - Form ARS
- ARKO's page on the SEC website