Oil refiner Phillips 66 plans to acquire EPIC NGL in $2.2 billion deal

© Reuters. FILE PHOTO: The Phillips 66 Wilmington refinery is shown after the company said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply, in Wilmington, California, U.S., October 17, 2024. REUTERS/Mike Blake/File Photo

(Reuters) – U.S. oil refiner Phillips 66 (NYSE:PSX) 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 close, it added.

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