Elliott Management Goes Activist on AT&T | Value Investing News

Elliott Management Goes Activist on AT&T

  • Paul Singer 's hedge fund firm Elliott Management has gone activist on AT&T (T), sending a letter to the board to outline what they feel is a 'compelling value-creation opportunity.
  • Elliott now owns $3.2 billion worth of shares and they see 65% upside to recent trading levels.Elliott writes, "Elliott made the investment in AT&T – among its largest ever – because it exhibits a unique combination of historical underperformance, a depressed valuation, well-positioned assets and a clear path forward to generate extraordinary value for shareholders and other stakeholders."
  • Embedded below is Elliott's Letter & Presentation on AT&T.
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