Phillips 66 (PSX) investor Elliott Investment Management urged the oil refiner on Tuesday to spin off or sell its midstream business, which it said could command a valuation of more than $40 billion.

Elliott Investment Management said on Tuesday it has built a stake of more than $2.5 billion in U.S. refiner Phillips 66, and ...

Activist Elliott Investment Management had a clear roadmap for refining giant Phillips 66 when it took its first $1 billion stake in the company in late 2023. The company, though, has ...