Elliot Management secures stake in Southwest Airlines allowing it to call special meeting
Southwest Airlines Co (NYSE:LUV) shares moved higher on reports Elliot Management has secured a 10% stake in the airline, giving the investment firm the power to call a special meeting. A person familiar with the matter told Reuters that the hedge fund, which held an 11% economic stake through derivatives, converted enough of its holdings into common shares to surpass the 10% threshold.
Southwest Airlines' stock rises premarket on report of upped Elliott stake
Elliott now holds enough stock to call a special shareholder meeting ahead of a Sept. 9 sit-down with management.
Exclusive: Elliott now owns enough of Southwest Airlines to call special meeting
Elliott Investment Management now holds 10% of Southwest Airlines' common stock, crossing the threshold that allows the hedge fund to call a special meeting at the carrier, according to a person familiar with the matter.
Southwest Airlines Stock Plunges 15.4% in 6 Months: Buy the Dip?
With LUV's shares moving south, we assess the current positioning of the stock to determine if it's a good investment at this juncture.
Activist hedge fund Elliott doubles down on Southwest Airlines proxy fight
The firm has set its eyes on ousting Southwest CEO Bob Jordan and Executive Chairman Gary Kelly, both of whom it blamed for the company's downfall.
Southwest's stock gains after activist Elliott lays out how to fix the airline
Shares of Southwest Airlines Co. LUV, +4.64% ascended 0.7% toward a six-week high in premarket trading Monday, after activist investor Elliott Management sent a letter to shareholders explaining why the air carrier needs new leadership. Elliott, which has about an 11% stake in Southwest, said the company's leadership has been “inadequate,” as they have “stubbornly” adhered to antiquated business practices, and needs to be removed and the board of directors needs to be refreshed for the company and its stock to stop declining.
Southwest Airlines Needs Better Communications Not Activist Investors
There's no question that Oscar Munoz was good for United Airlines. He came in as CEO at a tough time, fixed problems, and then did what many executives cannot: he managed succession well.
Southwest Airlines Rises as Elliott Management Targets Leadership
The country's largest regional airline, Southwest Airlines Co. NYSE: LUV, shares are rising as famed activist investor Elliott Management seeks to replace the company's leaders through a proxy war. Elliott made headlines recently after Starbucks Co. NASDAQ: SBUX pulled a coup by hiring Chipotle Mexican Grill Inc. NYSE: CMG CEO Brian Niccol to be its new CEO starting Sept.
Southwest CEO buckles down for Elliott proxy fight: ‘a battle for the heart of our company'
Southwest Airlines CEO Bob Jordan has been meeting with investors as he prepares for a proxy fight led by activist hedge fund Elliott Investment.
It's Time To Buy Southwest Airlines Stock And Wait
I've been bearish on Southwest Airlines stock since 2018 and maintained that stance through the pandemic. Historically, Southwest has had a long history as a profitable airline but hasn't adapted well to the current environment. Activist investors should act as a positive catalyst for the stock.
Activist investor Elliott pushes to grab control of Southwest Airlines board
Elliott is known for shaking up leadership at struggling companies and most recently pushed for the replacement of Starbucks CEO Laxman Narasimhan.
Elliott Wants to Shake Up Southwest Airlines' Board
Elliott Investment Management is preparing to launch a fight for control for control of Southwest Airlines' (LUV) board.
