Sunoco has completed its acquisition of Parkland Corporation for US$9.1 billion in cash, stock and debt.

Calgary-based Parkland’s shares are expected to be delisted from the Toronto Stock Exchange at the close of markets on Tuesday as Sunoco takes the firm private.

The deal previously received approval from the federal government and overcame a potential U.S. government barrier 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 merger between the U.S.-based energy-infrastructure and fuel-distribution firm and the Canadian fuel retailer and convenience-store chain operator.

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 continued to oppose the agreement.

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

Pictured: On the Run convenience store.

Photo: Parkland