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Chevron Open to Buying Phillips 66 Chemical Stake - Bloomberg Activist fund Elliott is pushing Phillips 66 to sell chemicals CPChem is 50-50 joint venture between Chevron and Phillips 66
Chevron Open to Buying Phillips 66 Chemical Stake Activist fund Elliott is pushing Phillips 66 to sell chemicals CPChem is 50-50 joint venture between Chevron and Phillips 66 #oott https://t.co/E8vDG91XnN
$CVX $PSX Chevron Open to Buying Phillips 66 Chemical Stake (Bloomberg) https://t.co/lAuTUENb7W
Chevron Corporation is reportedly open to acquiring Phillips 66's stake in a chemicals joint venture. This interest comes amid pressure from activist investor Elliott Investment Management, which is advocating for Phillips 66 to divest its chemicals business. The joint venture, known as CPChem, is a 50-50 partnership between Chevron and Phillips 66. Elliott's push for Phillips 66 to sell its chemicals stake has intensified discussions regarding the future of the joint venture.
