NEW YORK, Oct 27, 2021 (GLOBE NEWSWIRE via COMTEX) --
NEW YORK, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Phillips 66 Partners LP
("PSXP") breached their fiduciary duties or violated the federal securities laws in connection with the company's merger with Phillips 66
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On October 27, 2021, PSXP announced that it had entered into an agreement to merge with Phillips 66 in a deal valued at approximately $3.4 billion. Pursuant to the merger agreement, PSXP stockholders will receive 0.50 shares of Phillips 66 for each share of PSXP common stock owned. The deal is scheduled to close in the first quarter of 2022.
Bragar Eagel & Squire is concerned that PSXP's board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for PSXP's stockholders.
If you own shares of PSXP and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form . There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
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