• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight

April 21, 2025
in Technology & Startups
Reading Time: 2 mins read
A A
0
5
SHARES
11
VIEWS
Share on FacebookShare on Twitter


By David French

(Reuters) -Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66’s rivals, according to a letter seen by Reuters.

The salvo from Phillips 66, which is expected to be revealed in a letter later on Monday, is the latest in a bitter spat between the firm and Elliott that is due to come to a head at Phillips 66’s shareholder meeting next month.

In arguing against Elliott’s break-up thesis in the letter, Phillips 66 said the investment firm has a conflict of interest over the best strategy for the company due to its separate efforts to buy Citgo Petroleum.

The parent company of Citgo is being sold via a court-supervised auction. Last year, Amber Energy, backed by Elliott, was initially deemed the winner of the process, before creditor challenges forced the court to backtrack and launch a new sale effort.

The chief executive of Amber Energy, Gregory Goff, said on April 9 he had bought a position in Phillips 66 and backed Elliott’s campaign.

“This conflict is concerning because Amber Energy’s executives are actively helping support Elliott’s case to undermine Phillips 66’s strategy,” said Monday’s letter from Phillips 66.

Phillips 66 is one of the largest U.S. refiners, while Citgo is the seventh largest.

Elliott has put forward four director nominees for the May 21 meeting, as part of a campaign that has also included calling on Phillips 66 to sell or spin off its midstream business and consider divesting other assets that would allow it to focus on its refining business and boost its share price.

Elliott has said it has an investment worth more than $2.5 billion in Phillips 66. It is the second time the investment firm has pushed for change at Phillips 66, after a first effort ended in early 2024 with the addition of a new company board member blessed by Elliott.

(Reporting by David French in New York; Editing by Leslie Adler)

Tags: Amber EnergyCitgo PetroleumElliott Investment ManagementPhillips 66
Previous Post

Pope Francis dead: Catholic Church leader dies at 88 – National

Next Post

Pope Francis has died: A step-by-step guide to what happens in next days

Related Posts

Tesla plans ‘friends and family’ car service in California, regulator says

July 26, 2025
7

Intel is spinning off its Network and Edge group

July 25, 2025
8
Next Post
Pope Francis has died: A step-by-step guide to what happens in next days

Pope Francis has died: A step-by-step guide to what happens in next days

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Police ID man who died after Corso Italia fight

December 23, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
ET logo

NYT Connections answers July 26: NYT Connections answers, hints, clues for July 26, 2025: How to crack puzzle #776 todayheadline

July 26, 2025
menopause

First of its kind study explores symptom prevalence across the menopause transition

July 26, 2025
Kicking the can down the road on tariffs won't work for this Maryland manufacturer

Kicking the can down the road on tariffs won’t work for this Maryland manufacturer

July 26, 2025

Polls turn sour on Trump as he hits new lows with independents

July 26, 2025

Recent News

ET logo

NYT Connections answers July 26: NYT Connections answers, hints, clues for July 26, 2025: How to crack puzzle #776 todayheadline

July 26, 2025
5
menopause

First of its kind study explores symptom prevalence across the menopause transition

July 26, 2025
3
Kicking the can down the road on tariffs won't work for this Maryland manufacturer

Kicking the can down the road on tariffs won’t work for this Maryland manufacturer

July 26, 2025
6

Polls turn sour on Trump as he hits new lows with independents

July 26, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

ET logo

NYT Connections answers July 26: NYT Connections answers, hints, clues for July 26, 2025: How to crack puzzle #776 todayheadline

July 26, 2025
menopause

First of its kind study explores symptom prevalence across the menopause transition

July 26, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co