Sunoco to Buy Canadian Fuel Seller Parkland for $9.1 Billion (3)

Sunoco LP agreed to acquire Parkland Corp. for about $9.1 billion, including debt, offering a premium for a Canadian fuel distributor that’s in the midst of a leadership upheaval and a fight with its largest shareholder.

Sunoco, one of the biggest US gas station operators, will pay C$44 per Parkland share through a mix of cash and stock in a newly created public company called SUNCorp LLC, according to a statement Monday.

The deal comes as Parkland’s largest shareholder, Simpson Oil Ltd., appeared to be on the verge of gaining control of the Calgary-based company’s board. Simpson launched a ...