logo
Plus   Neg
Share
Email

Elliott Urges AT&T To Restructure Business; Stock Surges - Quick Facts

Elliott Management Corp. said that AT&T Inc. (T) is deeply undervalued, trading at just over half the multiple of the S&P 500, and urged the company to restructure its business, including cutting costs in units.

Elliott, which manages funds that collectively beneficially own $3.2 billion of AT&T, outlined a four-part plan - the Activating AT&T Plan - that would improve AT&T's share price and its business.

Elliott's letter stated that the Plan could enable AT&T to achieve a value per share of $60+ by the end of 2021.

In Monday's pre-Market trade, T is currently trading at $39.90, up $3.66 or 10.10%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Panera Bread Co. is launching a new subscription program that will allow customers to drink unlimited coffee and tea. The new program of $8.99 per month launches Thursday and covers hot coffee, iced coffee and hot tea. With the introduction of the subscription, Panera becomes the first national restaurant company to offer unlimited hot drip coffee, iced coffee and hot tea for $8.99 per month. Best Buy Co. Inc. (BBY) Thursday reported a fourth-quarter profit that increased 1.4 percent from last year, while, J. C. Penney Co.'s (JCP) quarterly profit dropped 64 percent. However, the results of the companies topped analysts' estimates. Safavieh LLC recalled about 760 units of Aura and Silas 3-Drawer Chests for possible serious tip-over and entrapment hazards that can result in death or injuries to children, the U.S. Consumer Product Safety Commission said in a statement. The company said the chests are unstable if they are not anchored to the wall.
Follow RTT
>