Parkland Executes Supplemental Indentures Amid Sunoco Acquisition

Parkland ( (TSE:PKI) ) just unveiled an update.

Parkland Corporation announced the execution of supplemental indentures for its senior notes following successful consent solicitations related to its acquisition by Sunoco LP. These amendments eliminate the obligation for a ‘Change of Control Offer’ due to the transaction and redefine ‘Change of Control’ to recognize Sunoco as a ‘Qualified Owner.’ The changes are binding on all note holders and will only become inoperative if the transaction is not completed or applicable fees are not paid.

The most recent analyst rating on (TSE:PKI) stock is a Hold with a C$43.00 price target. To see the full list of analyst forecasts on Parkland stock, see the TSE:PKI Stock Forecast page.

Spark’s Take on TSE:PKI Stock

According to Spark, TipRanks’ AI Analyst, TSE:PKI is a Neutral.

Parkland’s overall stock score reflects strong corporate events, with strategic moves promising growth and diversification. Financial performance is stable but hampered by high leverage. Technical indicators are neutral, while valuation suggests potential overvaluation.

To see Spark’s full report on TSE:PKI stock, click here.

More about Parkland

Parkland Corporation is a leading international fuel distributor, marketer, and convenience retailer with operations in 26 countries across the Americas. The company serves the fuel and convenience needs of everyday consumers through its retail network and provides commercial operations with fuel to help businesses operate efficiently.

Average Trading Volume: 765,376

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$6.69B

Find detailed analytics on PKI stock on TipRanks’ Stock Analysis page.