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Elliott Statement on AT&T
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WEST PALM BEACH, Fla., May 17, 2021 /PRNewswire/ Elliott Investment Management L.P. today released the following statement on behalf of Managing Partner Jesse Cohn and Portfolio Manager Marc Steinberg regarding AT&T s (NYSE: T) plan to merge media assets with Discovery: It has been a transformational year at AT&T year since John Stankey took over as CEO, and today s announcement represents another impressive step in the Company s recent evolution. AT&T has now executed on its promise to streamline operations and re-focus on its core businesses, all while improving operational execution, enhancing its financial position and advancing its corporate governance. As investors, Elliott supports AT&T in its efforts to best position the company for future success.
Elliott Investment Management L.P. ("Elliott"), which manages funds that have an investment in Duke Energy Corporation ("Duke" or the "Company") that make it a top 10 investor in the Company, today sent a letter to Duke's Board outlining a plan to create $12 to $15 billion of line-of-sight near-term value for shareholders. Elliott explained that this value upside is based on observable publicly traded market valuation metrics of Duke's closest peers and does not incorporate meaningfully higher valuations realized in recent transactions in Florida and Indiana, which would result in several billion dollars of incremental value.