Sunoco LP announced a definitive agreement to acquire all outstanding shares of Parkland Corporation in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. This strategic combination is expected to position the combined company as the largest independent fuel distributor in the Americas.
Under the terms, Parkland shareholders will receive 0.295 SUNCorp units and C$19.80 for each Parkland share, implying a 25% premium based on the 7-day VWAP's as of May 2, 2025. Sunoco intends to form SUNCorp, LLC, a new publicly-traded Delaware limited liability company, for the equity portion of the deal.
The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2025, subject to shareholder and regulatory approvals. This major acquisition by Sunoco LP is anticipated to be immediately accretive to distributable cash flow per common unit for Sunoco, which is beneficial for Energy Transfer LP as a significant unitholder.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.