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 energy company to either sell or spin off its midstream unit to help boost its stock price.
Elliott builds $2.5 billion stake in Phillips 66, pushes for midstream business sale
Elliott Investment Management said on Tuesday it has built a stake of more than $2.5 billion in U.S. refiner Phillips 66, and plans to push for operational changes as well as the sale of the company's midstream business.
Activist Elliott Ratchets Up Pressure on Phillips 66 With Over $2.5 Billion Stake
The activist investor plans to push the oil refiner to consider selling or spinning off its energy-transportation business.
Activist investor Elliott wants Phillips 66 to spin off business, sell JV interest
The activist investor demands that Phillips 66 separate or sell its midstream business, which it values at up to $40 billion, and sell its CPChem interest. Activist investor Elliott Investment Management LP wants Houston-based Phillips 66 (NYSE: PSX) to spin off its midstream business and sell its interest in the CPChem joint venture.
Phillips 66 Investor Elliott Urges Sale or Separation of Midstream Business
Phillips 66 (PSX) investor Elliott Investment Management urged the oil refiner on Tuesday to spin off or sell its midstream business, which it said could command a valuation of more than $40 billion.
Antero Midstream: Free Cash Flow Ahead Of Guidance
Antero Midstream surpasses free cash flow goals, balances growth with fiscal prudence, and targets high-teens returns. Read ...
Prediction: Buying Enbridge Today Will Set You Up for Life
Clearly, Enbridge has proven it believes in rewarding investors well for sticking around. Helping on that front is the ...
Antero Midstream sees FY25 EPS $0.92-$1.00
Net Income of $445 to $485 million, representing GAAP earnings of $0.92 to $1.00 per share; Adjusted EBITDA of $1.08 ...
Western Midstream: Scoop Up This Ultra-High-Yielding Deal Now
Western Midstream is a couple of months away from likely upping its already huge quarterly distribution per unit. See why I'm ...