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Elliott and AT&T Discussing Following Launch of Activist Campaign

Elliott Management and AT&T are talking about concerns the activist hedge fund raised in September when it drove for reform at the U.S. telecommunications and media conglomerate, two sources familiar with the matter said on Thursday.

Elliott is pressing the telecommunications titan to chop costs, make administration changes and pare expansion plans in one of its investor campaigns so far.

The two sides have held talks, and there is dialogue, one of the sources stated. The meetings have occurred since shortly after Elliott, one of the world’s most influential activist investors, six weeks ago, sent a four-part offer for modifications to AT&T. The fund says the changes may lift the share price by no less than 60% by the end of 2021.

Traditionally, activist buyers and management and directors at their target corporations arrange meetings after proposals are made to see where there could also be common ground.

A report came on Thursday, stating the two sides may settle as soon as this month, however, warned that talks could fall apart.

Elliott’s plan ranges from divesting sure businesses, eliminating $5 billion in costs, reviewing the way it allots capital, and urging CEO Randall Stephenson, who has led the corporate since the financial crisis, to cease making acquisitions.

Earnings are scheduled to be released on Oct. 28, one day before it plans to reveal its HBO Max streaming platform at an event in Burbank, Calif.


Clement Gutierrez

Clement works as the lead of the electronic devices column. He is fantastic at his work and can edit the articles very much efficiently. The unique thing about him is the speed of his work. Apart from working at a stretch in his rare leisure times, he loves to go through the internet in search of recent news of the tech market. He has been working in our organization for a span of 6 years now.

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