An announcement from Phillips 66 ( (PSX) ) is now available.
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Phillips 66 announced its agreement to acquire EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP for $2.2 billion, a move expected to enhance its position as a leading integrated downstream energy provider. The acquisition, which includes long-haul natural gas liquids pipelines and fractionation facilities, aims to optimize the company’s Permian NGL value chain and is anticipated to be immediately accretive to earnings, subject to regulatory approval and customary closing conditions.
More about Phillips 66
Phillips 66 is a leading integrated downstream energy provider that manufactures, transports, and markets products driving the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses, and it is headquartered in Houston.
YTD Price Performance: 1.47%
Average Trading Volume: 2,566,426
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $47.94B
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