Sunoco to buy Parkland for $9.1 billion; shares fall

Sunoco LP (Texas)

05/05/2025 12:35

** Shares of motor fuels distributor Sunoco SUN.N falls 3.4% to $55.97 premarket

** 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 the second half of 2025

** As of last close, shares are up 12.64% YTD

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))