In what looks to be a very noisy battle for the fall season, Elliott Management and its billionaire protagonist Paul Singer have set their sights on AT&T. The activist hedge fund disclosed a $3.2B position in AT&T, not a minor amount and a little over 1% of the telecommunications giant’s marketcap. And along with that investment they sent a rather public letter.
That letter detailed a bunch of changes they intend to push for to help boost the company’s stock price, which it sees as having underperformed for years.
