Sunoco To Buy Parkland Corp For Approx. $9.1 Bln In Cash And Stock Deal, Stock Down In Pre-Market

(RTTNews) - Sunoco LP (SUN), Monday announced an agreement to acquire Parkland Corp. in a cash and stock deal worth approximately $9.1 billion, forming a new publicly-traded Delaware limited liability company named SUNCorp, LLC.

As per the agreement, Parkland shareholders will receive 0.295 SUNCorp units and C$19.80 for each Parkland share.

The company expects the expanded free cash flow of the combined company to provide additional resources for reinvestment in Canada, the Caribbean, and the United States in support of both existing and new opportunities.

The transaction is expected to close in the second half of 2025.

In the pre-market hours, Sunoco's stock is trading at $56, down 3.35 percent on the New York Stock Exchange.