US EditionU.S. company Sunoco signs deal to buy Parkland in agreement valued at US$9.1B
- Sunoco will acquire Canada-based Parkland in a deal worth approximately $9.1 billion, including debt, to create the largest independent fuel distributor in the Americas.
- Parkland shareholders will receive C$19.80 in cash and 0.295 Sunoco units for each Parkland share held.
- The transaction is expected to generate over $250 million in synergies by the third year, according to Sunoco.
- Parkland may owe a $275 million breakup fee under certain circumstances if the deal doesn't close.
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79 Articles
Sunoco to acquire Parkland in $9.1bn deal - Overpasses For America
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Parkland agrees to be bought by U.S. heavyweight Sunoco in US$9.1B deal
A judge has sided with Parkland Corp. in its last-minute decision to delay its shareholder meeting by more than a month so investors can vote on a US$9.1-billion takeover by Sunoco LP at the same time they elect a board of directors.
Canadian fuel company faces $9-billion takeover bid by US-based Sunoco
A judge has sided with Parkland Corp. in its last-minute decision to delay its shareholder meeting by more than a month so investors can vote on a US$9.1-billion takeover by Sunoco LP at the same time they elect a board of directors. A showdown had been set to take place in Calgary on Tuesday.
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Dissident to fight board vote delay in court after Parkland, Sunoco sign US$9.1B deal
CALGARY — Parkland Corp.'s biggest shareholder is going to court after the company announced a US$9.1-billion takeover by Sunoco LP and delayed a meeting where it was to face investors pushing for a boardroom overhaul.
Sunoco Continues Spending Spree With $9.1 Billion Parkland Acquisition
Sunoco LP (NYSE: SUN) is bulking up again—this time north of the border. The Dallas-based fuel distributor announced Monday it will acquire Parkland Corporation (TSX: PKI) in a $9.1 billion cash-and-stock deal, including assumed debt. The move expands Sunoco’s footprint deep into Canada and the Caribbean, while consolidating its position in North American fuel supply and distribution. As part of the deal, Sunoco will spin up a new Delaware-based…
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