Phillips 66 has announced the completion of the previously announced merger between Phillips 66 Partners (PSXP) and Phillips 66.
The merger resulted in Phillips 66 acquiring all limited partnership interests in PSXP not already owned by Phillips 66 and its affiliates.
Partnership unitholders received 0.50 shares of PSX common stock for each outstanding PSXP common unit, including preferred units that were converted into common units at a premium prior to closing.
Effective 9 March 2022, PSXP’s common units will no longer be publicly traded on the New York Stock Exchange.