PHILLIPS 66 AND ELLIOTT’S CONTENTIOUS PROXY BATTLE ENDS IN SPLIT VOTE OVER FIGHT TO BREAK UP ENERGY GIANT
https://s.yimg.com/ny/api/res/1.2/0xnNfM3ApAQgDksHgn_w2A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-/https://media.zenfs.com/en/fortune_175/99f3f4ce84b9a5baec0744966cc6dc86
✍️ Phillips 66 and activist investor Elliott Investment Management have ended their boardroom fight with a split vote, with each side claiming two board seats.
👉 Phillips 66 and Elliott Investment Management have ended their boardroom fight with a split vote. 👉 Elliott had pushed for Phillips 66 to sell or spin off its petrochemical and midstream pipeline businesses. 👉 Phillips 66 had maintained its integrated structure. 👉 The vote is significant as it marks the first time an activist investor has won a board seat at an S&P 500 company without support from one of the big three index funds.
-- #MarkLashier #PaulSinger #Sigmund“Sig”Cornelius #MichaelHeim #RobertPease #NigelHearne #Germany #Austria #Switzerland #Lichtenstein #business
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