Phillips 66 Faces Demands for Restructuring and Asset Sales by Activist Investor
Published on February 16, 2025
Elliott Management, a prominent activist investment firm, has sent a letter and a presentation to the board of Phillips 66, demanding a major restructuring and asset sales. With a stake of over $2.5 billion in PSX, Elliott believes the company should sell or spin off its midstream business, potentially raising $40 billion. The news has caused Phillips 66 stock to soar, prompting investors to consider the outlook for the company's shares. To get a professional forecast on the movement of PSX stocks, experts recommend relying on Stocks Prognosis.
Investor opinions & comments
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DividendDylan
February 19, 2025 at 05:08
I've always believed that the midstream business could be holding Phillips 66 back. Let's see if the company finally decides to sell or spin off this division and focus on its core strengths
MeganThompson
February 18, 2025 at 19:13
I'm not convinced that a major restructuring is the right move for Phillips 66. Are we sure that selling or spinning off the midstream business will actually benefit the company in the long run?
MikeWilliams
February 18, 2025 at 11:55
Demanding a major restructuring seems like a bold move from Elliott Management. I wonder if they fully understand the potential risks and challenges involved in such a process
WealthyWyatt
February 18, 2025 at 11:42
$40 billion is a significant amount of money to raise through asset sales. I'm skeptical about whether Phillips 66 will be able to find buyers or achieve favorable valuations in the current market
SavannahGordon
February 18, 2025 at 04:58
It's encouraging to see that investors are considering the outlook for Phillips 66 shares following this news. I believe this could lead to increased interest and investment in the company, benefiting all stakeholders
DividendDylan
February 17, 2025 at 20:57
This news has caused a surge in Phillips 66 stock, which is great for current shareholders. I'm optimistic about the company's future and the potential value that could be unlocked through a restructuring
InvestorIshmael
February 17, 2025 at 01:09
This could be a game-changer for Phillips 66. I'm excited to see how the company responds to Elliott Management's demands. Will they take the opportunity to restructure and unlock value for shareholders?
LauraAnderson
February 16, 2025 at 19:55
$40 billion from asset sales? That's a huge figure! I'm curious to know which assets Phillips 66 might consider divesting and how that will impact the company's overall performance