Activist shareholders

Activist investor Elliott Management wants Marathon Petroleum split 3 ways

illustration of an oil can
Illustration: Sarah Grillo/Axios

Elliott Management has revived its call for Marathon Petroleum to be split into three businesses.

Why it matters: Marathon is the largest U.S. oil refiner by capacity, but activist investor Elliott wants it to separate its refining business from its pipeline and gas station units.

Box gets an activist investor

Jeffrey Smith, CEO of Starboard Value LP, speaks at the 5th annual CNBC Institutional Investor Delivering Alpha Conference on Wednesday, July 15, 2015.
Starboard Value CEO Jeffrey Smith. Photo: Heidi Gutman/CNBC/NBCU via Getty Images

Starboard Value, an activist investor, disclosed a 7.5% stake in Box, making it the cloud content management company's third-largest shareholder.

Why it matters: Because Box had become a Silicon Valley poster child for "good" corporate governance, last year eliminating the dual-class stock structure it had gone public with in 2015. But now Box is facing the exact scenario that dual-class structures were designed to protect against.