{"id":860717,"date":"2025-06-16T07:58:12","date_gmt":"2025-06-16T11:58:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/"},"modified":"2025-06-16T07:58:12","modified_gmt":"2025-06-16T11:58:12","slug":"iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/","title":{"rendered":"ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">CALGARY, AB<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">June 16, 2025<\/span><\/span> \/PRNewswire\/ &#8211; Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, &#8220;our&#8221;, or the &#8220;Company&#8221;) (TSX: PKI) is pleased to announce that leading independent proxy advisory firms Institutional Shareholder Services Inc. (&#8220;ISS&#8221;) and Glass, Lewis &amp; Co. (&#8220;Glass Lewis&#8221;) are recommending shareholders vote <b>FOR<\/b>\u00a0the proposed arrangement (the &#8220;Arrangement&#8221;) with Sunoco LP (&#8220;Sunoco&#8221;) at the upcoming Annual and Special Meeting of Shareholders (the &#8220;Meeting&#8221;). Both firms highlighted the strategic and financial merits of the Arrangement as the basis for their recommendations.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2711094\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2711094\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.jpg\" title=\"Parkland Corporation Logo (CNW Group\/Parkland Corporation)\" alt=\"Parkland Corporation Logo (CNW Group\/Parkland Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>ISS noted that &#8220;when viewed in proper context, there are compelling reasons to believe that this deal is the best path forward for shareholders.&#8221; Among the reasons cited were the offer premium, flexible consideration (subject to pro-ration), the absence of competing proposals, support from Parkland&#8217;s largest shareholder, and the opportunity for shareholders to participate in future upside potential of the combined entity.<sup>1<\/sup><\/p>\n<p>Glass Lewis emphasized the compelling fit and enhanced diversification, scale and optionality of the combined platform. Further, the firm specifically cited the advantages of the C-corp holding structure and improved capital markets access for the combined company.<sup>1<\/sup><\/p>\n<p>In addition to the endorsements from ISS and Glass Lewis, the Arrangement has been supported by fairness opinions provided to Parkland&#8217;s Board of Directors by each of Goldman Sachs Canada Inc. and BofA Securities, Inc., and to the independent Special Committee of the Board of Directors by BMO Nesbitt Burns Inc. Parkland&#8217;s Special Committee and Board of Directors have unanimously recommended shareholders vote <b><u>FOR<\/u><\/b> the Arrangement.<\/p>\n<p>\n        <b>Voting and Meeting Details<br \/><\/b>To ensure your vote is counted, shareholders must submit their votes by <span class=\"xn-chron\">Friday, June 20, 2025<\/span>, at <span class=\"xn-chron\">9:00 a.m.<\/span> (Calgary Time). Parkland encourages shareholders to vote today to avoid missing this deadline.<\/p>\n<p>In addition to voting on the proposed Arrangement with Sunoco, shareholders will be asked to consider several important matters at the Meeting, including the election of the Company&#8217;s Board of Directors, the appointment of Parkland&#8217;s auditor, an advisory, non-binding vote on Parkland&#8217;s approach to executive compensation, and to receive Parkland&#8217;s audited financial statements for 2024. These matters received overwhelming support from ISS and Glass Lewis.<\/p>\n<p>The Meeting will be held on\u00a0June 24, 2025, at <span class=\"xn-chron\">9:00 a.m.<\/span> (Calgary Time)\u00a0at the Calgary TELUS Convention Centre in <span class=\"xn-location\">Calgary, Alberta<\/span>.<\/p>\n<p>The Management Information Circular and related Meeting materials can be found on Parkland&#8217;s SEDAR+ profile at <a href=\"http:\/\/www.sedarplus.ca\" rel=\"nofollow\">www.sedarplus.ca<\/a>, as well as at ParklandSunoco.ca.<\/p>\n<p>\n        <b>Questions? Need Help Voting?<br \/><\/b>If you have questions or need assistance voting, please contact Kingsdale Advisors at 1-888-518-6832 (toll-free in <span class=\"xn-location\">North America<\/span>) or 1-647-251-9740 (text and call enabled outside <span class=\"xn-location\">North America<\/span>), or by email at <a href=\"mailto:contactus@kingsdaleadvisors.com\" target=\"_blank\" rel=\"nofollow\">contactus@kingsdaleadvisors.com<\/a><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">__________________________<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1 <\/sup>Permission neither sought nor obtained<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About Parkland Corporation<br \/><\/b>Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas. Our retail network meets the fuel, and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers&#8217; needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span>, and the <span class=\"xn-location\">Caribbean<\/span> region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance.<\/p>\n<p>Our strategy is focused on two interconnected pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers through our proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community, and respect, which are embedded across our organization.<\/p>\n<p>\n        <b>About Sunoco LP<br \/><\/b>Sunoco (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, <span class=\"xn-location\">Puerto Rico<\/span>, <span class=\"xn-location\">Europe<\/span>, and <span class=\"xn-location\">Mexico<\/span>. Sunoco&#8217;s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership&#8217;s fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. Sunoco&#8217;s general partner is owned by Energy Transfer LP (NYSE: ET).<\/p>\n<p>\n        <b>Forward-Looking Statements<br \/><\/b>Certain statements contained herein constitute forward-looking information and statements (collectively, &#8220;forward looking statements&#8221;). When used in this news release, the words &#8220;commit&#8221;, &#8220;ensure&#8221;, &#8220;enhance&#8221;, &#8220;expect&#8221;, &#8220;increase&#8221;, &#8220;ongoing&#8221;, &#8220;will&#8221;, and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: Parkland&#8217;s Annual and Special Meeting of Shareholders and the timing thereof;<\/p>\n<p>These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: general economic, market and business conditions; Parkland&#8217;s Annual and Special Meeting of Shareholders and the results thereof, Parkland&#8217;s ability to execute its business strategy; action by other persons or companies; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings &#8220;Cautionary Statement Regarding Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; in Parkland&#8217;s current Annual Information Form, and under the headings &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; in Parkland&#8217;s Management&#8217;s Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR+ and available on Parkland&#8217;s website at <a href=\"http:\/\/www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a>. The forward-looking statements contained herein are expressly qualified by this cautionary statement.<\/p>\n<p>The forward-looking statements contained herein are expressly qualified by this cautionary statement.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CA10553&amp;sd=2025-06-16\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco-302482037.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco-302482037.html<\/a><\/p>\n<p>SOURCE  Parkland Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CA10553&amp;Transmission_Id=202506160755PR_NEWS_USPR_____CA10553&amp;DateId=20250616\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire CALGARY, AB , June 16, 2025 \/PRNewswire\/ &#8211; Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, &#8220;our&#8221;, or the &#8220;Company&#8221;) (TSX: PKI) is pleased to announce that leading independent proxy advisory firms Institutional Shareholder Services Inc. (&#8220;ISS&#8221;) and Glass, Lewis &amp; Co. (&#8220;Glass Lewis&#8221;) are recommending shareholders vote FOR\u00a0the proposed arrangement (the &#8220;Arrangement&#8221;) with Sunoco LP (&#8220;Sunoco&#8221;) at the upcoming Annual and Special Meeting of Shareholders (the &#8220;Meeting&#8221;). Both firms highlighted the strategic and financial merits of the Arrangement as the basis for their recommendations. ISS noted that &#8220;when viewed in proper context, there are compelling reasons to believe that this deal is the best path forward for shareholders.&#8221; Among the reasons cited were the offer premium, flexible consideration (subject to pro-ration), &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-860717","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ISS and Glass Lewis Endorse Parkland&#039;s Value-Enhancing Arrangement with Sunoco - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ISS and Glass Lewis Endorse Parkland&#039;s Value-Enhancing Arrangement with Sunoco - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CALGARY, AB , June 16, 2025 \/PRNewswire\/ &#8211; Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, &#8220;our&#8221;, or the &#8220;Company&#8221;) (TSX: PKI) is pleased to announce that leading independent proxy advisory firms Institutional Shareholder Services Inc. (&#8220;ISS&#8221;) and Glass, Lewis &amp; Co. (&#8220;Glass Lewis&#8221;) are recommending shareholders vote FOR\u00a0the proposed arrangement (the &#8220;Arrangement&#8221;) with Sunoco LP (&#8220;Sunoco&#8221;) at the upcoming Annual and Special Meeting of Shareholders (the &#8220;Meeting&#8221;). Both firms highlighted the strategic and financial merits of the Arrangement as the basis for their recommendations. ISS noted that &#8220;when viewed in proper context, there are compelling reasons to believe that this deal is the best path forward for shareholders.&#8221; Among the reasons cited were the offer premium, flexible consideration (subject to pro-ration), &hellip; Continue reading &quot;ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-16T11:58:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2711094\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco\",\"datePublished\":\"2025-06-16T11:58:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/\"},\"wordCount\":1069,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2711094\\\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\\\/\",\"name\":\"ISS and Glass Lewis Endorse Parkland's Value-Enhancing Arrangement with Sunoco - 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(&#8220;ISS&#8221;) and Glass, Lewis &amp; Co. (&#8220;Glass Lewis&#8221;) are recommending shareholders vote FOR\u00a0the proposed arrangement (the &#8220;Arrangement&#8221;) with Sunoco LP (&#8220;Sunoco&#8221;) at the upcoming Annual and Special Meeting of Shareholders (the &#8220;Meeting&#8221;). Both firms highlighted the strategic and financial merits of the Arrangement as the basis for their recommendations. ISS noted that &#8220;when viewed in proper context, there are compelling reasons to believe that this deal is the best path forward for shareholders.&#8221; Among the reasons cited were the offer premium, flexible consideration (subject to pro-ration), &hellip; Continue reading \"ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/","og_site_name":"Market Newsdesk","article_published_time":"2025-06-16T11:58:12+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/2711094\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ISS and Glass Lewis Endorse Parkland&#8217;s Value-Enhancing Arrangement with Sunoco","datePublished":"2025-06-16T11:58:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/"},"wordCount":1069,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/2711094\/Parkland_Corporation_ISS_and_Glass_Lewis_Endorse_Parkland_s_Valu.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/iss-and-glass-lewis-endorse-parklands-value-enhancing-arrangement-with-sunoco\/","name":"ISS and Glass Lewis Endorse Parkland's Value-Enhancing Arrangement with Sunoco - 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