Elliott builds $2.5 billion stake in Phillips 66, pushes for midstream business sale
1. Elliott Investment Management has a $2.5 billion stake in Phillips 66. 2. They plan to advocate for operational changes and midstream business sale.
FAQ
Why Bullish?
Elliott's significant investment often drives positive operational changes, which may enhance profitability.
How important is it?
The involvement of a major investor like Elliott is crucial for potential positive changes in PSX's operations.
Why Long Term?
Operational improvements and strategic sales could yield lasting financial benefits for PSX.