The Toronto-based propane and distillates distributor will take an $853-million equity stake in Certarus under the deal, and assume all remaining debt. Certarus shareholders will receive $353 million in cash and $500 million in common Superior shares priced at $10.25 apiece. (The Logic) 

Talking point: Calgary-based Certarus stores and delivers lower-emissions fuels like hydrogen, compressed natural gas and renewable natural gas, which is typically derived from biological feedstocks. The acquisition will give Superior a foothold in low-carbon fuels, which Certarus delivers to customers using a fleet of trucks dispatched through 18 hubs. The company has expanded its network in recent years, as more customers seek to “transition from higher cost and higher carbon intensity fuels such as diesel and other distillates to lower cost and lower carbon energy alternatives,” it said in a release.