Parkland Corporation Successfully Completes Consent Solicitations for Sunoco Acquisition
Reuters
Jun 10
Parkland Corporation Successfully Completes Consent Solicitations for Sunoco Acquisition
Parkland Corporation has announced the successful completion of consent solicitations for senior notes in connection with its acquisition by Sunoco LP. The transaction, first announced on May 5, 2025, involves Sunoco acquiring all issued and outstanding common shares of Parkland. The consent solicitations have allowed Parkland to amend the indentures governing its senior notes to eliminate the potential obligation to make a "Change of Control Offer" and redefine "Change of Control" to include Sunoco and its affiliates as "Qualified Owners." The solicitations expired on June 9, 2025, and supplemental indentures will be executed but will only become operative if the transaction is consummated and consent fees are paid. Parkland will distribute consent fees to note holders who provided valid consents prior to the expiration date.
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