Phillips delayed its annual meeting until May 29.

The new date, a month later than originally planned, will allow the Bartlesville, Okla.-based firm to adjust its records following the conclusion of a stock repurchase offer. Phillips Petroleum, which has survived two takeover attempts since last December, currently is offering to buy back up to 72.5 million shares of its stock, nearly 50% of its outstanding shares, with securities valued a $62 a share.