AT&T (T - Get Report) soared Monday after activist investors Elliott Management wrote a letter to the company's board of directors urging a broader business review that it says would unlock investor value after taking a $3.2 billion stake in the telecoms and media company.

Upon reviewing the letter, Jim Cramer said Elliott's argument was "well-constructed and constructive."

"It was not an attack on AT&T, but a 'here's how you can run it better,'" Cramer said.

His advice for AT&T management?

"I would invite Elliott in to help me," Cramer said.

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