Q: Hi 5i,
If Sunoco buys Parkland, does it (Parkland) become a foreign holding(US).It was bought on the TSX a few years ago as a Canadian company and would this then become an American company?
Thanks
kc
If Sunoco buys Parkland, does it (Parkland) become a foreign holding(US).It was bought on the TSX a few years ago as a Canadian company and would this then become an American company?
Thanks
kc
5i Research Answer:
Yes; it is a cross-border transaction and thus taxable to Canadians and new shares will be considered American.