TravelCenters ($TA) operates 255 rest stops, mostly located along the nation’s interstate highway system, that include fuel stations, convenience stores, truck-repair services, and restaurants. On 6/15/2016 TravelCenters stock was up as much as 37% and closed the day up 24% on the news that TravelCenters rejected a $14-per-share bid from private equity firm Golden Gate Capital.

Truck-stop operator TravelCenters of America LLC rejected a $14-per-share
December bid from Golden Gate Capital, but the private-equity firm remains interested in a deal, according to people familiar with the matter.
Golden Gate hasn’t been in contact with the company since the offer was rejected, and the San Francisco firm isn’t interested in making a hostile bid, some of the people said.–WSJ

With the stock trading a shade under $8-per-share, a $14 bid is huge premium. The rejection of this bid more than likely put and will put a lot of pressure on TravelCenter’s management team to make something happen to get the stock higher and justify a $14 bid rejection.  At the same time, the bid probably put TravelCenter’s on the radar of other firms that perhaps had no idea who they were or that there might be some hidden value worth doing some due diligence on.

SOURCE;WSJ

My opinion and outlook are subject to change as new information comes in.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at fzorrilla@zorcapital.com or 646-480-7463. 
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.