The combined company will benefit from complementary assets, enabling an advantaged fuel supply and further diversifying Sunoco's portfolio and geographic footprint.

U.S. fuel supplier Sunoco has struck a $9.1-billion deal to buy Canada-based Parkland, a move that would create the Americas' largest independent fuel distributor but which Parkland's largest shareholder immediately criticized.

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.