Southwest Strikes a Truce With the Activist Hedge Fund Elliott
Published On Oct 24, 2024, 11:54 AM
Southwest Airlines has reached an agreement with Elliott Investment Management to appoint six new directors to its board. This decision comes as a move to prevent a proxy fight with the activist investor, who is one of the airline's largest shareholders.
Stock Forecasts
LUV
Positive
The appointment of new directors is likely to lead to strategic changes aimed at improving efficiency and profitability. Activist investors usually push for better operational performance, which can enhance shareholder value.
Related News
Florida airports close as Hurricane Milton nears
Oct 9, 2024, 10:21 AM
Several airports in Florida have temporarily shut down operations ahead of Hurricane Milton's landfall. This marks the second major storm to make landfall in the state in recent weeks.
Kaltbaum Capital Management President Gary Kaltbaum analyzes Nvidia and Southwest Airlines on 'Varney & Co.'
Southwest Airlines Lays Out Changes and New Offerings
Sep 26, 2024, 9:38 AM
The move came after the hedge fund Elliott Management, which has more than 10 percent of the airline’s shares, called for cost containment and better profits.