Reuters News Service reports the split decision ends months of escalating tension between the company and the hedge fund, which has pushed for asset sales and improved performance. Phillips 66 has defended its current strategy, arguing that its long-term plan will deliver value to investors.

Phillips 66 (NYSE:PSX) recently announced that it has entered into a definitive agreement to divest a 65% interest in its Germany and Austria retail marketing business — including 843 JET-branded

Phillips 66 (NYSE:PSX) today provided investors with important information to make fully informed voting decisions at the Phillips 66 Annual Meeting on May 21, 2025. This overview is intended to ensure investors understand the facts on these critical topics as they assess how to cast their upcoming vote.

The transaction is expected to close in the second half of 2025. Phillips 66's divestiture comes amid a heated proxy battle with Elliott Investment Management, which secured a key endorsement ...

In the first quarter of 2025 Phillips 66 exceeded a divestiture target of over $3 billion, meant to support its shareholder return target and other long-term priorities, with the receipt of $2 ...

Phillips 66 Urges Shareholders to Vote “FOR” ONLY ... “Has refining performance improved and are there credible plans in place to continue along this journey?” Analysts recognize our ...