(CNBC) AT&T rallied Monday after Paul Singer’s Elliott Management announced it owns $3.2 billion in the underperforming telecom giant’s stock and said in a letter that it hopes to help the company trim unneeded assets. The hedge fund said it sent a letter to the company’s board and argued for ways AT&T can “improve its business and realize a historic increase in value.”
AT&T Shares Rally after Activist Elliott Management Takes $3.2 Billion Stake, Sees Stock Worth $60
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