Elliott readies Southwest proxy fight, will nominate 10 directors
Publishing timestamp: 2024-08-13 21:33:07
Summary
Elliott Management will launch a proxy fight at Southwest Airlines by nominating 10 directors to the company's board. Southwest is confident in its current leadership and has been making efforts to reach out to Elliott. The activist has already amassed an 11% stake in the airline and needs to own at least 10% to call a special meeting. Southwest recently announced changes to its business model in response to a challenging market.
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Source: https://www.cnbc.com/2024/08/13/elliott-southwest-proxy-fight.html