Phillips

Phillips 66 to buy EPIC NGL for $2.2 billion in bid to boost Permian presence By Reuters

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Phillips 66 to buy EPIC NGL for $2.2 billion in bid to boost Permian presence By Reuters

(Reuters) – U.S. oil refiner Phillips 66 (NYSE: ) said on Monday it will acquire EPIC Y-Grade GP and EPIC Y-Grade in an all-cash deal for $2.2 billion. The transaction is expected to be immediately accretive to earnings per share upon closing, it added.