U.S. fuel supplier Sunoco announced in May that it has inked a US$9.1-billion agreement to buy Canada-based Parkland Corp., a move that would create the Americas’ largest independent fuel distributor. Sunoco would gain control of Parkland’s fleet of fueling stations and its valuable Burnaby refinery near Vancouver, BC. The deal is supported by Parkland’s largest shareholder and is slated to be voted on June 24. In today’s RBN blog, we’ll discuss this deal and what it means for Canada’s only West Coast refiner.
Under terms of the proposed transaction, whose total value includes debt, Parkland shareholders will receive C$19.80 in cash and 0.295 shares in a new, publicly traded entity called SUNCorp. Parkland shareholders can also choose to receive C$44.00 in cash or 0.536 Sunoco units per share. The deal includes a C$2.65 billion bridge loan for Sunoco.
The planned acquisition was approved unanimously by Parkland’s board of directors in early May and is supported by Parkland’s largest shareholder, Simpson Oil, which believes it provides the potential for enhanced operations and opportunities under Sunoco’s experienced management. Dallas-based Sunoco, a master limited partnership (MLP) whose general partner is controlled by Energy Transfer, first expressed interest in Parkland in 2023 and made an offer, but it was turned down, according to published reports.
Combined Assets of Sunoco and Parkland
Figure 1. Combined Assets of Sunoco and Parkland. Source: Sunoco
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About the song
“Mr. Brightside” was written by Brandon Flowers and Dave Keuning and appears as the second song on The Killers’ debut studio album, Hot Fuss. Guitarist Dave Keuning had the chords and melody to the song hanging around for a while. After Brandon Flowers walked into a Las Vegas club and discovered his girlfriend with another guy, he wrote the lyrics and finished the song. A video for the song was shot by director Sophie Muller for the U.S. market and won an MTV Video Music Award for Best New Artist in a Video in 2005. Released as the first single from the album in September 2003, it went to #10 on the Billboard Hot 100 Singles chart and has been certified Diamond (10 million copies) by the Recording Industry Association of America (RIAA). One could assume that Brandon Flowers was glad that he had caught his girlfriend cheating on him when the royalty checks started coming in. Personnel on the record were: Brandon Flowers (vocals, synthesizer), Dave Keuning (guitar), Mark Stoermer (bass), and Ronnie Vannucci Jr. (drums).
Hot Fuss was recorded in 2003 at The Hearse in Berkeley, CA; Cornerstone in Los Angeles; and Dave Keuning’s apartment in Las Vegas. Produced by Jeff Saltzman, The Killers, and Brandon Flowers, the album was released in June 2004. It went to #7 on the Billboard 200 Albums chart and has been certified 6X Platinum by the RIAA. Four singles were released from the LP.
The Killers are an American rock band formed in Las Vegas in 2001 by vocalist Brandon Flowers and guitarist Dave Keuning. Bassist Stoermer and drummer Vannucci Jr. joined the band in 2002. They have released seven studio albums, a live album, four compilation albums, two EPs and 42 singles and have sold more than 28 million records worldwide. The Killers have won two Brit Awards, an MTV Video Music Award and a World Music Award. They continue to record and tour, and will be playing selected venues in the U.S. and Canada in the summer of 2025.
