Parkland Corporation (TSX: PKI) and Sunoco LP (NYSE: SUN) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with Sunoco's pending acquisition of Parkland.
The expiration of the waiting period under the HSR Act satisfies an important regulatory approval necessary for the completion of the Transaction, which is expected to close in the fourth quarter of 2025, subject to obtaining other regulatory approvals and the satisfaction of certain customary closing conditions.
Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in 26 countries across the Americas. Parkland's retail network meets the fuel, and convenience needs of everyday consumers. Parkland's commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting its customers' needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, Parkland has developed supply, distribution, and trading capabilities to accelerate growth and business performance.
Parkland's strategy is focused on two interconnected pillars: its Customer Advantage and its Supply Advantage.
SUN shares gave over 50 cents, or 1%, to begin Monday trading at $48.81.
