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
Memphis Meats, a cell based meat start-up, raised $161 million in a new round of funding from Softbank Group-led investors, in order to launch products to the market. With this, total funding exceeds $180 million. Memphis Meats intends to use the new funding to build a pilot facility for the production of cell-based meat, increase the number of employees, and to bring its products to the market. Intel Corp. (INTC), the world's biggest chipmaker, Thursday said its profit and revenues for the fourth quarter trumped Wall Street estimates. The company's shares gained nearly 7 percent driven by strong outlook for the first quarter and full year 2020. Santa Clara, California-based Intel reported... ABH Pharma, Inc. and Stocknutra.com Inc. have recalled all of its dietary supplement products pursuant to a consent decree entered by the U.S. District Court for the Eastern District of New York. The companies have recalled all dietary supplement products manufactured and sold between January 2013...
Follow RTT
>