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Top related persons:
Phillips - 2 Elliott - 2 Mark Lashier - 1 Ken Squire - 1 Gary McWilliams - 1 refiner Phillips - 1 Goldman Sachs - 1 Lipton - 1
Top related locs:
U.S Chevron Europe COOs Houston , Texas New York Houston CPChem
Top related orgs:
Phillips - 2 Chevron Phillips Chemical - 1 Valero Energy - 1 Marathon Petroleum - 1 Valero - 1 13D - 1 REUTERS - 1 Elliott Investment Management - 1

Search resuls for: "CPChem"


2 mentions found


☆ Here’s how activist Elliott could build shareholder value amicably at Phillips 66
  + stars: | 2023-12-02 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +6 min
Business: Phillips 66 is an energy manufacturing and logistics company. Percentage Ownership: n/a Average Cost: n/a Activist Commentary: Elliott is a very successful and astute activist investor. On Wednesday, Elliott sent a letter to Phillips 66, announcing that it has taken a $1 billion stake and is seeking up to two board seats. While we do not generalize like that, it is hard to imagine a more amicable and constructive activist campaign than what Elliott is proposing at Phillips 66. When implemented, Phillips 66 saw costs increase relative to peers, burning shareholders' confidence in the management team's ability to achieve its goals.
Persons: Phillips, Elliott, Mark Lashier, Ken Squire Organizations: Phillips, Chevron Phillips Chemical, Valero Energy, Marathon Petroleum, Valero, 13D Locations: Chevron, U.S, Europe, COOs
☆ US refiner Phillips 66 retains big-name advisers for Elliott duel
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +2 min
U.S. oil company Phillips 66 headquarters in Houston, Texas, U.S., September 27, 2020. REUTERS/Gary McWilliams/File Photo Acquire Licensing RightsNov 30 (Reuters) - U.S. oil refiner Phillips 66 (PSX.N) has retained two top financial and legal advisers for its duel with activist investor Elliott Investment Management, according to a person familiar with the matter. Elliott wants two board seats to be filled by executives with refining experience and faster action on restructuring the fourth-largest U.S. oil refiner to improve its lagging financial performance, the New York activist said on Wednesday. Phillips 66 is relying on financial and legal advice from Goldman Sachs (GS.N) and Wachtell, Lipton, Rosen & Katz, the person familiar with the matter said. A Phillips 66 spokesman declined to comment on the advisers or whether it has new meetings scheduled with the activist.
Persons: Gary McWilliams, refiner Phillips, Elliott, Phillips, Goldman Sachs, Lipton, Katz, Tudor Pickering Holt, Matthew Blair, Blair, David French, Chizu Organizations: Phillips, REUTERS, Elliott Investment Management, New, Wachtell, Rosen, Tudor Pickering Holt & Co, Chevron, Thomson Locations: Houston , Texas, U.S, New York, Houston, CPChem
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