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flag Elliott Investment Management raises stake in Phillips 66 to $2.5B, pushes for changes.

flag Elliott Investment Management has increased its stake in oil refiner Phillips 66 to over $2.5 billion, aiming to push for operational changes, particularly in the company's midstream business. flag This move intensifies pressure on Phillips 66 to restructure its operations to boost shareholder value, following a decline in the company's stock price since March. flag Phillips 66 has not yet commented on the situation.

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