Maybe my question will sound stupid, however I would like to ask it. How is it possible for some hedge fund company "Elliot Management", that owns only 1% of shares of the AT&T can dictate conditions to the AT&T? This looks like very low reputation to AT&T.
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That 1% has a big impact on the top %’s stock owners. Not sure if they are able to work together and brought Elliot into the mix. But this puts pressure on Randall to deliver and deliver quickly.
The inept c-suite allowed it.
How is it possible for some hedge fund company "Elliot Management", that owns only 1% of shares of the AT&T can dictate conditions to the AT&T?
They can dump their 1% ($2.7 billion) and cause the stock to drop.
Well said...for all the people at ATT that see the insanity and CHAOS of the present leadership....Elliot is finally exposing and holding them accountable!!! Already the stock is seeing a small pop!! They are not going away!!! There going to make there present holding of shares much more valuable, by forcing change!!
Activist Investment Firms like this spread fear within AT&T's executive leadership team. As mentioned already, could create a proxy fight which will not end well for AT&T. Once you loss investor confidance with Vanguard, BlackRock, SSg Funds, and Newport, the board would be forced to replace the whole leadership team. For the first time, I think our leadership team is having to work for a living.....on the hot seat.
Check out E Bay ...Elliot bought into them earlier this year. the CEO just stepped down
RS knows he is failing and wants to avoid a proxy fight where Elliott gets the backing of some of the large passive shareholders like Vanguard, BlackRock, State Co. He knows him, Stankey, Lee and Stephens are incompetent and in over their heads