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, Reuters’ Svea Herbst-Bayliss reports, citing a person familiar with the matter. The news comes days before the two sides are scheduled to meet on Sept. 9 to discuss ways to solve problems that have contributed to Southwest’s stock losing roughly half its value over the last three years.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LUV:
- Southwest (NYSE:LUV) Faces Pressure from Activist Investor for Major Shakeup
- Boeing’s Starliner to return without astronauts: Morning Buzz
- Elliott lays out framework for change at Southwest in letter to shareholders
- Medtronic, Palo Alto Networks report quarterly beats: Morning Buzz
- Southwest CEO prepares for Elliot proxy fight, NY Post reports
Questions or Comments about the article? Write to editor@tipranks.com