(Bloomberg) -- Phillips 66 and Enbridge Inc. swapped interests in two major US pipelines as part of a transaction merging joint ventures between the companies. Most Read from BloombergApple Targets Sept. 7 for iPhone 14 Launch in Flurry of New DevicesBiden Called Cheney After Her Loss to Trump-Backed ChallengerCovid’s Harmful Effects on the Brain Reverberate Years LaterBill Gates and the Secret Push to Save Biden’s Climate BillStock Market Plunge Punished 401(k) MillionairesPhillips 66 increased
Zacks.com users have recently been watching Phillips 66 (PSX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
U.S. refiner Phillips 66 on Wednesday offered to acquire the public units of DCP Midstream in a deal that would value the pipeline operator at $7.2 billion deal and bulk up Phillip's natural gas liquids business. A deal would mark the first major move by Mark Lashier, who took over as the chief executive officer of Phillips 66 last month. Earlier this year, the company acquired the public units in transportation and storage business Phillips 66 Partners.