Barnwell Industries pushes back on shareholder effort for board overhaul

Barnwell Industries pushes back on shareholder effort for board overhaul

A majority shareholder in the company is aiming to overhaul the board with support from other stockholders.

Phillips 66 Investor Backs Elliott Board Nominees in Proxy Fight

Elliott Investment Management has won support from a prominent Phillips 66 investor for replacing some of the oil refiner’s board members.

Phillips 66 Puts Up Fight Against Elliott Campaign for Changes

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last we…

Phillips 66 Hits Back at Elliott Activism in Proxy Filing

(Bloomberg) — Phillips 66 is urging shareholders to vote against what it sees as activist investor Elliott Investment Management’s short-term attempts to dismantle the company, according to a definitive proxy statement filed by the refiner Tuesday.

Phillips 66 proxy fight heats up as key investor backs Elliott nominees

Elliott Investment Management’s activist campaign at Phillips 66 gained momentum this week after former refining executive and long-time energy investor Gregory Goff publicly endorsed Elliott’s board nominees in the run-up to a high-stakes proxy vote, according to a report by Bloomberg. The report cites Goff, in a letter sent on Wednesday, as criticising the Houston-based refiner’s strategy of integrating midstream and refining assets, saying it…

Phillips 66 Exposes Hidden Connection Between Board Nominee and Elliott Management

Phillips 66 challenges board nominee's independence, revealing undisclosed ties to Elliott Management amid $43B shareholder return track record. See full analysis.