Parkland Corporation and Sunoco’s US$9.1-billion merger has received approval from the federal government approval, the companies announced Tuesday.

Ottawa’s approval moves the merger process closer to the finish line, marking another leap for Parkland and Sunoco over a regulatory hurdle.

The companies overcame a potential U.S. government barrier in recent weeks with the expiration of the waiting period under the American Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).

During the summer, Parkland and Sunoco shareholders approved the proposed friendly takeover of the Calgary-based fuel retailer and convenience-store chain owner.

That approval came after activist investor and majority shareholder Simpson Oil backed the deal in June after waging a two-year boardroom battle with Parkland. The sale agreement resulted after Simpson won a key court decision that gave it a say in the company’s future.

But fellow dissident shareholder Engine Capital rejected the proposed agreement.

Parkland operates about 4,000 gas stations and electric-vehicle charging sites across Canada, the U.S., and the Caribbean. The company also owns the On the Run convenience-store chain and M&M Food Market, along with an oil refinery in Burnaby, B.C.

If all goes according to plan, the transaction will include cash, stock and debt. U.S.-based Sunoco plans to take Parkland private.

The deal is expected to close in the fourth quarter of 2025.

Pictured: On the Run convenience store.

Photo: Parkland