Sunoco is buying Canada’s gas station and convenience store chain Parkland in a cash-and-stock deal valued at approximately $9.1 billion, expanding its footprint north of the border
ByMICHELLE CHAPMAN AP business writer
Sunoco is buying Canada’s gas station and convenience store chain Parkland in a cash-and-stock deal valued at approximately $9.1 billion, expanding its footprint north of the border.
Parkland has approximately 4,000 locations across Canada, the United States, and the Caribbean. Sunoco has gas and convenience store locations in more than 40 states, Puerto Rico, Europe, and Mexico.
Parkland Corp. shareholders will receive 0.295 SunCorp units and $19.80 Canadian ($14.34) for each Parkland share they own. There’s also an option for Parkland shareholders to choose to receive $44