Elliott has reportedly increased its Phillips 66 stake. Here’s its plan. - MarketWatch
1. Elliott Management invests $2.5 billion in Phillips 66. 2. Activist investor pushes for sale of midstream business. 3. Phillips 66 disposed $3.5 billion of non-core assets recently. 4. Midstream business was most profitable unit in Q4. 5. Following news, PSX shares rose 3% premarket.