The company's two largest shareholders, who collectively own 11.9% of the company's shares, have already agreed to vote in favor of the deal. Jonathan Pertchik, CEO of TravelCenters of America, said, "Today's announcement that BP is acquiring TA for $86 per share is a result of the successful implementation of our turnaround and strategic plans. We have improved our core travel center business, expanded our network, launched eTA to prepare for the future of alternative fuels and improved our operating and financial results, none of which we could have accomplished without the hard work and dedication of our employees at every level." The company said after it implemented a turnaround plan and recorded several quarters of improved results, it received "unsolicited interest" to be acquired. The board hired financial and legal advisors to consider a sale, and the "process ultimately included competitive rounds of bidding from potential buyers that resulted in the transaction announced today."