Sunoco (SUN) on Monday said it reached a deal to acquire Canadian rival Parkland in a deal worth roughly $9.1 billion.

Shares of Sunoco fell close to 6💃% in New York, while Parkland shares rose over 5% in Toronto following the news. Sunoco shares have gained about 6% in 2025.

Under the terms of the deal, Parkland shareholders will receive 0.295 units of SUNCorp, the new combined company, and 19.80 Canadian dollars for each Parkland share. That represents a roughly 25% premium over the seven-day 澳洲幸运5官方开奖结果体彩网:volume-weighted average price of both compan🎃ies as of Friday, Sunoco said. 🤪The deal is expected to close in the second half of 2025. 

Sunoco said the combination would be “immed💞iately accretive” and that it plans to continue investing in Parkland’s low-carbon fuel refinery in Burnaby, British Columbi🍬a.

Sunoco is scheduled to its first-quarter results Tuesday before the opening bell.