Key Takeaways Sunoco agreed to buy Canadian fuel distributor Parkland in a $9.1 billion cash and stock deal.Shares of Sunoco slumped Monday, while Parkland traded higher in Toronto following the news.

Sunoco (NYSE:SUN) said Monday it agreed to acquire Canada-based fuel distributor and marketer Parkland (OTCPK:PKIUF) for ~US$9.1B in cash and stock, including assumed debt. Under the deal terms, Sunoco (NYSE:SUN) said Parkland (OTCPK:PKIUF) shareholders will receive 0.

Energy company Sunoco is buying Canada-based Parkland in a deal valued at approximately $9.1 billion, creating a massive fuel distributor. The two announced the move on Monday, saying Sunoco intends to form a new publicly traded limited liability company named SUNCorp,