Parkland announced on Tuesday that Dallas-based Sunoco’s proposed acquisition of the Calgary fuel distribution company had secured Investment Canada Act approval, thereby clearing a major regulatory hurdle. The deal—valued at US$9.1 billion including debt when Sunoco proposed the acquisition in May—will close in the fourth quarter of 2025, Parkland said.  (The Logic)

Talking point: If finalized, the Sunoco takeover could put an end to a prolonged power struggle over Parkland. Cayman Islands-based Simpson Oil, Parkland’s largest investor, and Engine Capital, a New York-based activist investor, had long pushed for a board shakeup and even an outright sale of Parkland as the Canadian firm struggled to meet investors’ expectations. In June, Simpson announced support for Sunoco’s takeover, reversing its earlier rejection of the deal in light of recent management changes. A takeover would grant Sunoco control of Parkland’s roughly 4,000 gas stations across Canada, the U.S. and the Caribbean region.