Parkland mails shareholder election forms for Sunoco acquisition

Parkland Corporation (TSX: PKI) announced it has mailed letter of transmittal and election forms to registered shareholders in connection with its previously announced acquisition by Sunoco LP (NYSE: SUN).

The forms outline documentation required for shareholders to receive consideration and elect their preferred form of payment under the arrangement. Registered shareholders must submit these forms to depositary Computershare Investor Services Inc. to validly deposit their shares and make their election.

Under the plan of arrangement, Parkland shareholders can choose from three options for each share they hold: C$19.80 in cash plus 0.295 SunocoCorp units that will be listed on the NYSE; C$44.00 in cash; or approximately 0.536 SunocoCorp units.

The cash and unit-only options are subject to proration, maximum amounts and adjustments according to the arrangement terms. Shareholders who fail to submit properly completed forms by the election deadline will automatically receive the combination of cash and units option.

Beneficial shareholders whose shares are held through intermediaries such as brokers should contact their intermediary for instructions rather than using the letter of transmittal directly. Each intermediary maintains its own procedures and may have earlier deadlines.

Parkland has not yet determined the election deadline but will announce it before the arrangement closes. The company has made the forms available on its website and SEDAR+ profile.

The acquisition was initially announced May 5, 2025, when Parkland entered into an arrangement agreement with Sunoco LP, SunocoCorp LLC, and 2709716 Alberta Ltd. under a court-approved plan of arrangement.

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