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Elliott builds $2.5 billion stake in Phillips 66

Elliott builds more than $2.5B stake in Phillips 66, wants it to sell or spin off midstream unit

Activist investor Elliott Investment Management LP has built up a more than $2.5 billion stake in Phillips 66, and is looking for the oil company to either sell or spin off its midstream unit to help boost its stock price.

The Wall Street Journal on MSN · 5h

Activist Elliott Ratchets Up Pressure on Phillips 66 With Over $2.5 Billion Stake

Activist Elliott Investment Management on Tuesday disclosed a stake in Phillips 66 valued at more than $2.5 billion and said it is pushing the oil refiner to consider operational changes to boost its stagnant stock.

Investopedia · 4h

Phillips 66 Stock Jumps as Elliott Reportedly Takes More than $2.5B Stake

Phillips 66 shares are jumping 4% in intraday trading Tuesday following a report by The Wall Street Journal that Elliott Investment Management has built a more than $2.5 billion stake in the oil refiner.

Elliott Sends Letter and Presentation to the Board of Phillips 66

Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment of more than $2.5 billion in Phillips 66 (NYSE: PSX) (the "Company" or "Phillips"), today sent a ...

Elliott discloses over $2.5B position in Phillips 66, sends letter to board

Elliott Investment Management L.P., which manages funds that together have an investment of more than $2.5B in Phillips 66 (PSX), sent a letter ...

Wall Street Journal11m

Here’s Where Phillips 66 and Elliott Don’t See Eye to Eye

Activist Elliott Investment Management had a clear roadmap for refining giant Phillips 66 when it took its first $1 billion stake in the company in late 2023. The company, though, has moved in a ...

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Elliott builds $2.5 billion stake in Phillips 66

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