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Elliott Investment Management raises stake in Phillips 66 to $2.5B, pushes for changes.
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.
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.
Phillips 66 has not yet commented on the situation.
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Elliott Investment Management aumenta la participación en Phillips 66 a $2.5B, presiona por cambios.