Latham & Watkins Advises Phillips 66 in US$3.4 Billion Acquisition of Phillips 66 Partners

A Texas-based team advises on the all-stock transaction.

October 27, 2021

Phillips 66 (NYSE: PSX) and Phillips 66 Partners (PSXP or the Partnership) (NYSE: PSXP) have announced that they have entered into a definitive agreement for Phillips 66 to acquire all of the publicly held common units representing limited partner interests in the Partnership not already owned by Phillips 66 and its affiliates in a transaction valued at US$3.4 billion.

Latham & Watkins LLP represents Phillips 66 in the transaction with a corporate deal team led by Houston partner Thomas Brandt and Austin/Houston partner Bill Finnegan, with Houston associates Thomas Verity, Jonathan Villa, Josh Blankenship, and Zek Zhang. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee; on environmental matters by Houston partner Joel Mack and Los Angeles counsel Josh Marnitz; and on benefits and compensation by Washington, D.C. partner Adam Kestenbaum. 

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.