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MOTOR FUELS DISTRIBUTOR SUNOCO WILL BUY RIVAL PARKLAND IN $9 BILLION DEAL

  • NEWS Desk Global
  • 2 days ago
  • 1 min read



Sunoco LP will buy Canada-based Parkland in a deal valued at about $9.1 billion, including debt, the U.S. fuel supplier said on Monday, a move that would create the largest independent fuel distributor in the Americas.

Parkland management hailed the deal as a path to greater financial stability and growth. The company had undertaken a strategic review in March following persistent pressure from Simpson Oil, its largest shareholder with a nearly 20% stake, and activist investor Engine Capital.

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