From Yahoo Finance: 2025-05-05 10:12:00

Sunoco is acquiring Canada’s Parkland Corp. in a $9.1 billion deal, expanding its presence with 4,000 locations in Canada, the U.S., and the Caribbean. Parkland shareholders can choose between cash or Sunoco units. The deal includes assuming debt and is expected to close in the second half of the year.

Parkland’s board explored strategic options in March, leading to talks intensifying with Sunoco. Parkland will keep its Calgary headquarters and Sunoco will invest in Parkland’s Burnaby refinery. The deal is subject to shareholder, court, and regulatory approvals, including under the Investment Canada Act.

A special shareholders meeting is set for June 24 for a vote on the transaction. If the deal falls through, Parkland could pay a $275 million break up fee. Shares of Dallas-based Sunoco LP dipped over 2% on Monday following the announcement.



Read more at Yahoo Finance: Sunoco buys Canadian gas and convenience store chain Parkland for about $9.1 billion