13 Feb 2018 Phillips 66 and Berkshire Hathaway Announce Share Repurchase Agreement ( Portfolio )

“Phillips 66 is a great company with a diversified downstream portfolio and a strong management team,” commented Warren E. Buffett, Berkshire Hathaway Chairman and CEO. “This transaction was solely motivated by our desire to eliminate the regulatory requirements that come with ownership levels above 10 percent. We remain one of Phillips 66’s largest shareholders and plan to continue to hold the stock for the long term.”