Amid Elliott Investment's Suggestions, Phillips 66 Confirms Ongoing Discussions And Updates On Ambitious Business Goals

Benzinga ·  11/30/2023 15:25

We agree with Elliott that successful execution of our strategic priorities will drive substantial stock price performance and believe that we have the right management team and Board in place to deliver long-term, sustainable value.We also appreciate that Elliott recognizes the value-creation potential of the strategic priorities that we have been executing since our Investor Day in November 2022. Given our substantial progress and confidence in exceeding the original targets, on Oct. 27, 2023, we announced the following enhancements:Raise shareholder distributions target to a range of $13 billion to $15 billionMonetize over $3 billion of non-core assetsReturn at least 50% of operating

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