Thread regarding Windstream Corp. layoffs

Large Windstream creditor / hedge fund now going after AT&T

https://www.lightwaveonline.com/business/companies/article/14039708/activist-investment-firm-elliott-management-targets-att

Elliott Management bought up a lot of Windstream debt at a discount after Windstream filed for bankruptcy. They're believed to now be the company's biggest creditor.

They've now bought 1% of AT&T and are pushing for changes there.

I expect they will have the biggest influence on Windstream after bankruptcy.

It may be revealing to see how they handle AT&T in the meantime.

PS Elliott is NOT the same hedge fund that sued over the REIT spinoff. That one was Aurelius.

by Anonymous
| 1802 views | | 4 replies (last September 16, 2019) | Reply
Post ID: @OP+110n7vlC
Comment! It's anonymous!

4 replies (most recent on top)

Think of all the problems integrating the two.

Elliott’s 23-page letter to AT&T’s board is interesting and very straightforward to read when you get the chance. A key point is how the current AT&T regime has wasted so money and management attention on wasteful mergers over the last decade. Elliott says acquisitions have to stop.

My guess is the new Windstream stock will trade publicly post-bankruptcy. Elliot will focus on streamlining and fixing Windstream. It’ll be painful. Then they’ll cash out by selling their block.

I see few corporate buyers for Windstream at that point. What telco would buy WS, even if company was a well-oiled machine. The big players out there have their hands full: AT&T, Verizon, CenturyLink, Frontier. Maybe Cincinnati Bell or TDS but those 2 have survived this far by being very cautious.

So I think Elliot’s block will just go on the market and be bought by investors.

The future still holds pain with Elliot, but that’s better than the current pain + chaos.

by No AT&T death star for Windstream
| | Reply
Post ID: @4kge+110n7vlC

Theres a new wrinkle. Windstream just gets rolled up into AT&T. That would be horrible for employees

by TT
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Post ID: @4bcp+110n7vlC

Correction - the other link was to the press release.

Here's a link to the actual letter with a detailed analysis of AT&T:
https://activatingatt.com/wp-content/uploads/2019/09/Elliotts-Letter-to-ATT_09092019.pdf

by Meet your new boss - NOT the same as the old boss
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Post ID: @1hco+110n7vlC

This is the letter Elliott sent to AT&T management:
https://www.businesswire.com/news/home/20190909005482/en/Elliott-Management-Sends-Letter-Board-Directors-ATT

by Knock, knock
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Post ID: @1mcn+110n7vlC

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