Elliott is requesting a special shareholder meeting at Southwest Airlines, Bloomberg’s Crystal Tse reports, citing people with knowledge of the matter. The activist investor nominated eight directors to the Southwest board and is seeking to replace the same number of board members, say the people. Elliott is requesting that the meeting take place on December 10, the people add. The notification is Elliott’s first for a special meeting, as well as its first proxy fight since 2017. In September, after meeting with Elliott, Southwest announced that six of its board members including Chair Gary Kelly would depart, and also reduced the board to 12 members from 15. Elliott has an 11% stake in Southwest and has insisted that it wants CEO Bob Jordan to be removed.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LUV:
- Elliott requesting special meeting at Southwest, Bloomberg reports
- Jefferies aerospace & defense analysts hold analyst/industry conference call
- Southwest price target raised to $30 from $25 at Susquehanna
- Jeffries gives ‘credit where credit is due,’ ups Southwest to Hold
- Southwest upgraded to Hold from Underperform at Jefferies