Southwest, Elliot to begin settlement discussions, Bloomberg reports

Elliott Investment Management and Southwest (LUV) Airlines have begun discussing a potential settlement that would avoid a proxy fight for control of the airline’s board, Bloomberg’s Crystal Tse, Matthew Monks, and Mary Schlangenstein report, citing people familiar with the matter. Elliott has proposed a framework that would give it representation on Southwest’s board but not control, said some of the people. The talks, which were progressing toward a resolution as of Saturday, haven’t been finalized and could fall through, the people said.