PHILLIPS 66 AND ACTIVIST INVESTOR ELLIOTT FACE OFF ON A CLASSIC CONGLOMERATE QUANDARY: ARE THE PIECES OF A HUGE COMPANY WORTH MORE TOGETHER OR BROKEN UP?
https://s.yimg.com/ny/api/res/1.2/_eIUWYB_gXEy.o5Xq1NagA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD03OTk-/https://media.zenfs.com/en/fortune_175/ec382a3c741f8f2fba208d41a2656bfb
✍️ Phillips 66, a Fortune 500 energy company, is embroiled in a battle with activist fund manager Elliott Management over the company's direction and strategy.
👉 Phillips 66 is a Fortune 500 energy company with a market cap of $40 billion. 👉 Elliott Management is an activist fund manager led by billionaire Paul Singer. 👉 The dispute centers around Elliott's proposal to spin off Phillips 66's pipeline and terminals business. 👉 Phillips 66 has instead focused on growing its midstream pipeline business. 👉 The two sides have been engaged in a heated exchange, with both accusing the other of seeking to undermine the company's long-term value creation strategy.
-- #PaulSinger #MarkLashier #ArjunMurti #ChrisNoonan #AllenGood #RobertPease #GregGarland #GregoryGoff #GracePuma #UnitedStates #PermianBasin #business
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