Sunoco to buy Parkland for $9.1 billion; shares fall

Shares of motor fuels distributor Sunoco SUN.N falls 5% to $55.02 in morning trade

Whereas, shares of Canadian fuel distributor Parkland PKI.TO up 7.3% at C$38.94

Company says it will acquire Canada-based Parkland PKI.TO for $9.1 billion, including debt

SUN says Parkland shareholders will receive C$19.80 in cash and 0.295 Sunoco units for each Parkland share

Deal is expected to close in second half of 2025

Deal expected to deliver over $250 million in annual cost savings by year three

Including session's moves, shares are up 8.63% YTD