Twitter said today that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to be put toward a $2 billion stock buyback. Jack Dorsey remains the social media company’s CEO.
Ellliott Management, a top activist shareholder firm, disclosed Monday that it has taken a $3.2 billion stake in AT&T. In a letter to AT&T’s board, Elliott Management partner Jesse Cohn and associate portfolio manager Marc Steinberg wrote that AT&T’s stock could potentially surge to above $60 a share by 2021 if the company “increased strategic focus, improved operational efficiency” and “enhanced leadership and oversight.” That would be a more-than 65% increase from Friday’s closing price of $36.25.
