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Sunoco to purchase Parkland for $9.1 bn
Financial Express Lucknow
|May 06, 2025
SUNOCO AGREED TO acquire Parkland for about $9.1 billion, including debt, offering a premium for a Canadian fuel distributor that's in the midst of a leadership upheaval and a fight with its largest shareholder.
Sunoco, one of the biggest US gas station operators, will pay C$44 per Parkland share through a mix of cash and stock in a newly created public company called SUNCorp, according to a statement Monday.
The deal comes as Parkland's largest shareholder, Simpson Oil appeared to be on the verge of gaining control of the Calgary-based company's board. Simpson launched a proxy fight and said Friday it had secured a majority of the shares.
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