Phillips Petroleum Co.'s plans to acquire Tosco Corp. in a $7 billion stock deal would mark the industry's latest consolidation. A Phillips spokesman said it planned to keep separate Tosco's Union 76 and Circle K gas-station brands along with its own 66 retail chain. Omnicom Group's DDB
Worldwide, Dallas, handles Phillips' estimated $5 million account. Interpublic Groups of Cos.' Dailey & Associates, Los Angeles, has Tosco's $18 million account.
Copyright February 2001, Crain Communications Inc.