Sunoco to buy Parkland for $9.1 billion; shares fall

Parkland

05/05/2025 15:30

Updates

** Shares of motor fuels distributor Sunoco SUN.N falls 5% to $55.02 in morning trade

        ** Whereas, shares of Canadian fuel distributor Parkland PKI.TO up 7.3% at C$38.94

** Company says it will acquire Canada-based Parkland PKI.TO for $9.1 billion, including debt

** SUN says Parkland shareholders will receive C$19.80 in cash and 0.295 Sunoco units for each Parkland share

** Deal is expected to close in second half of 2025

** Deal expected to deliver over $250 million in annual cost savings by year three

** Including session's moves, shares are up 8.63% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))