04:44 PM EDT, 06/06/2025 (MT Newswires) -- Simpson Oil, which holds a 19.8% stake in Parkland (PKI.TO), on Friday said it vote all its shares in favor of Sunoco's (SON) US$9.1-billion offer for refiner and gas-stop company.

"A combination with Sunoco will allow Parkland to benefit from operating under a first-class management team with a proven track record of value creation," Simpson Oil said.

Parkland shareholders will be able to own part of the combined company through SunocoCorp units, and Simpson Oil sees this deal as a good outcome for investors, the company added.

In February, Simpson Oil, which is Parkland's largest shareholder, issued a public letter to Parkland's board of directors, highlighting the company's "ongoing weak performance." In April 2024, Simpson Oil called for a strategic review, urging Parkland's board to evaluate value-creation opportunities for shareholders, including a potential sale or strategic transaction.

NYSE-listed Sunoco is looking to acquire Parkland in a cash and equity transaction valued at about US$9.1 billion, including assumed debt. The deal is expected to close in the second half of 2025, subject to shareholder, court, and regulatory approvals. A special shareholders' meeting is scheduled for June 24.

Earlier Friday, Parkland shareholder Engine Capital said it will vote against the sale of the company to Sunoco on the grounds that there are superior alternatives and the sale process was flawed.

Parkland shares closed up $0.66 to $39.39 on the Toronto Stock Exchange.