BRIEF-Phillips 66 To Acquire Publicly Held Common Units Of DCP Midstream, LP

Jan 6 (Reuters) - Phillips 66 PSX.N:

• PHILLIPS 66 REACHES AGREEMENT TO ACQUIRE PUBLICLY HELD COMMON UNITS OF DCP MIDSTREAM, LP

• PHILLIPS 66 - PROPOSED DEAL FOR CASH CONSIDERATION OF $41.75 PER COMMON UNIT

• PHILLIPS 66: DEAL INCREASES PHILLIPS 66'S ECONOMIC INTEREST IN DCP MIDSTREAM, LP TO 86.8%

• PHILLIPS 66 - TARGETED OPERATIONAL AND COMMERCIAL SYNERGIES OF AT LEAST $300 MILLION

• PHILLIPS 66 - TARGETED OPERATIONAL AND COMMERCIAL SYNERGIES OF AT LEAST $300 MILLION

• PHILLIPS 66 - ALL-CASH TRANSACTION EXPECTED TO CLOSE IN Q2 OF 2023

• PHILLIPS 66 - DEAL EXPECTED TO GENERATE AN INCREMENTAL $1 BILLION OF ADJUSTED EBITDA FOR CO

• PHILLIPS 66 - PLANS TO FUND ABOUT $3.8 BILLION CASH CONSIDERATION THROUGH A COMBINATION OF CASH & DEBT

• PHILLIPS 66 - PLANS TO FUND APPROXIMATELY $3.8 BILLION CASH CONSIDERATION THROUGH A COMBINATION OF CASH AND DEBT

• PHILLIPS 66 - EXPECTS TO CAPTURE OPERATIONAL & COMMERCIAL SYNERGIES OF AT LEAST $300 MILLION BY INTEGRATING DCP MIDSTREAM INTO ITS EXISTING MIDSTREAM BUSINESS

• PHILLIPS 66- EXPECTS TO CAPTURE OPERATIONAL, COMMERCIAL SYNERGIES OF AT LEAST $300 MILLION BY INTEGRATING DCP MIDSTREAM INTO EXISTING MIDSTREAM BUSINESS

• PHILLIPS 66 - DCP MIDSTREAM HAS NOT SOLICITED AND IS NOT SOLICITING APPROVAL OF TRANSACTION BY ANY OTHER HOLDERS OF DCP MIDSTREAM COMMON UNITS

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