Thread regarding Phillips 66 layoffs

Fire Sale - Part 2

At a meeting the other day the Investor Relations guy said that as soon as it was announced that P66 wanted to sell 3 billion dollars worth of assets, his email “lighted up” with companies offering to buy anything P66 was selling.
This is most likely a lie and even If there was a lot of interest, it would be from people looking for a real good deal, not wanting to pay top dollar for an asset that P66 doesn’t want.

by
| 1612 views | | 4 replies (last November 27)
Post ID: @OP+1pDMVuIL

4 replies (most recent on top)

Why would you be afraid?! Life is too short. If someone buys those assets and they are more committed to them, isn’t that a good thing?

by
|
Post ID: @avwp+1pDMVuIL

I, like most people, fear the unknown. But, with P66 having the plague known as Business Transformation inflicted on it, it’s hard to imagine anything being worse than that. At this point it seems we have nothing to lose.

by
|
Post ID: @7auv+1pDMVuIL

I visited with one of top managers @ Borger refinery about Phillips 66 selling its stake to Cenovus. My take from his moments regarding the sale of the Borger and Woods River refineries to Cenovus had a better than average odds do to the source he stated.
There are always plenty of rumors but this one has some electricity in the air about it. Fear abodes.

by
|
Post ID: @7npp+1pDMVuIL

Post a reply

: