Anyone got any ideas?
10 replies (most recent on top)
“Propel 66”??
I saw a bunch of OneOak folks on our floor today 🧐🧐
Very interesting news today. Increased holding to $2.5 billion and pushing for split. Could rumours be true
Rebrand as Harbor Freight Fuels.
The company struggles to compete in the market due to an unappealing brand. It may be time for an acquisition and a complete overhaul of the executive leadership team.
Not heard anything about splitting the company but rumours about P66 being interested in CITGO have been going around the Houston office.
That would be hilarious. I remember hearing a thousand times back in 2012 "the spin off will allow us to focus on refining rather than all the capital going to upstream."
He-l, let's do it again
Not merger as such but have heard rumour that Elliot’s are pushing for the board to spin off what’s left of refining and then buy CITGO refineries. Probably BS but would explain Elliot’s interest in both companies. Would certainly get my vote if it meant no more gogo and current ELT
MPC if refining could make it through anti-trust, but execs would avoid it to an extent. Good likelihood of Elliot pushing a spinoff for midstream to help its earnings multiple.
No one would be interested in paying a lot for a domestic refiner (super major).
Our integrated portfolio has yet to convince wall street. Chemicals is a bust and oversupplied market.
Size of debt is high and mid-cycle earnings aren’t looking good.
The brand is unappealing...