Phillips 66 (PSX) , a leading U.S.-based refining player, has announced a major acquisition involving the Ares-backed midstream business EPIC NGL. The company has signed an agreement to acquire EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP in an all-cash transaction totaling $2.2 billion. PSX mentioned that the deal is expected to be immediately accretive to its earnings per share (EPS) and strengthen its presence in the natural gas liquids (NGLs) market.PSX to Strengthen Its Position in the NGL MarketEPIC Y-Gr ...