Exclusive: Elliott nominates 7 directors at Phillips 66, ratchets up pressure
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Elliott Investment Management has nominated seven directors to the board of Phillips 66, aiming to push for strategic changes such as spinning off or selling its midstream business.
March 04, 2025 | 5:30 pm
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Elliott Investment Management is increasing pressure on Phillips 66 by nominating seven directors to its board, potentially leading to strategic changes like a spin-off or sale of its midstream business.
Elliott's nomination of directors suggests a strong push for strategic changes at Phillips 66, which could lead to significant restructuring, such as a spin-off or sale of its midstream business. This activist move is likely to impact the stock positively in the short term as investors anticipate potential value unlocking.
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