AT&T agrees to a deal with activist shareholder Elliott Management | CNN


AT&T’s truce with Elliott Management — avoiding a protracted fight with one of the world’s most successful activist shareholders — sent the company’s stock to a 52-week high on Monday.

The plan, as described by Elliott Management, includes “significantly enhanced operational efficiency with meaningful margin expansion, a “full review of the portfolio,” and “no more major acquisitions.”

AT&T (T) CEO and Chairman Randall Stephenson heralded the resolution and said “I think our interests are 100% aligned. Seriously.”

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