Elliott builds $2.5 billion stake in Phillips 66, pushes for midstream business sale
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Elliott Investment Management has acquired a $2.5 billion stake in Phillips 66 and is advocating for operational changes, including the sale of the company's midstream business.
February 11, 2025 | 3:45 pm
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Elliott Investment Management has acquired a significant $2.5 billion stake in Phillips 66, aiming to influence operational changes and the sale of its midstream business.
Elliott's large stake and push for changes could lead to increased investor interest and potential restructuring, likely boosting PSX's stock price in the short term.
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