The board of Southwest Airlines (WN, Dallas Love Field) has approved adopting a limited-duration shareholder rights plan in response to Elliott Investment Management L.P. acquiring a significant amount of its common stock.

The airline made the announcement via a July 3 regulatory filing and follows Elliott, a so-called activist investor, building a circa 11% stake in Southwest Airlines and calling for leadership changes in the wake of lacklustre financial results.

“Southwest Airlines has made a good…

Source: ch aviation
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