Phillips 66 (PSX) to Acquire Phillips 66 Partners (PSXP) for $3.4B

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Go back to Phillips 66 (PSX) to Acquire Phillips 66 Partners (PSXP) for $3.4B

Phillips 66 Announces Agreement to Acquire Phillips 66 Partners

October 27, 2021 8:00 AM EDT

All-stock transaction at a fixed exchange ratio of 0.50 PSX shares for each PSXP common unit Simplifies governance and corporate structure Transaction expected to close in the first quarter of 2022

HOUSTON--(BUSINESS WIRE)-- Phillips 66 (NYSE: PSX) and Phillips 66 Partners (PSXP or the Partnership) (NYSE: PSXP) announced today that they have entered into a definitive agreement for Phillips 66 to acquire all of the publicly held common units representing limited partner interests in the Partnership not already owned by Phillips 66 and its... More