Reported about 9 hours ago
Elliott Investment Management achieved a crucial victory in its proxy battle with Phillips 66 as Institutional Shareholder Services (ISS) endorsed all four of its director nominees. The firm, holding a $2.5 billion stake in Phillips 66, is advocating for strategic changes, including the potential sale of its midstream operations and a refreshed board. With ISS's support, along with a recommendation from Glass Lewis for three out of four nominees, Elliott is gaining momentum in what is considered one of the year's fiercest proxy contests.
Source: YAHOO