On April 16, 2024, Parkland Corporation announced that a strategic review is unnecessary for the best interests of the majority of shareholders. Simpson Oil Limited solicited a potential sale of the Company below its intrinsic value in 2023. The Company determined pursuing the sale would not serve the best interests of the Company and its shareholders.

The Company stated that in 2023, while having nominees on Board, Simpson solicited a potential sale of the Company at a valuation significantly below the Company?s intrinsic value. The Company engaged legal and financial advisors and conducted a thorough evaluation of the proposed transaction. In addition, the Board established a special committee and engaged their own independent advisors.

After careful consideration, the Board determined that pursuing this alternative would not serve the best interests of the Company and its shareholders, said Steven Richardson, Chair of the Board. In addition, the Company stated that the Company?s Board fulfils its responsibilities for the benefit of all shareholders, not at the direction of one.