Americas News
Parkland Corporation Shareholders Approve $9.1 Billion Acquisition by Sunoco
The shareholders of Canadian fuel company Parkland Corporation have voted to approve a takeover by US-based Sunoco.
93.46% of Parkland's shareholders voted to approve the Sunoco acquisition, the company said in a statement on its website on Tuesday.
"The Arrangement remains subject to other closing conditions, including regulatory approvals and the final approval by the Court of King's Bench of Alberta," the company said in the statement.
"The Arrangement is expected to close in the second half of 2025."
Parkland first announced the planned deal, valued at about $9.1 billion, in early May.
Parkland launched its marine division, Parkland Marine, in April 2022, managed by James Stapleton. Stapleton later left the company to take on the role of director of marine fuels and freight at Sunoco in July 2024.
