Southwest Air adopts 'poison pill' as activist investor Elliott takes significant stake in company

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 21 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Business News

Gary C. Kelly

Southwest Airlines has adopted a ‘poison pill’ following activist investor Elliott Investment Management taking a significant stake in the company.

Holiday travel ramps up ahead of 4th of July. Here are the best times to hit the road or arrive at the airportCopyright 2023 The Associated Press. All rights reserved.

The airline said Wednesday that the shareholder rights plan is effective immediately and expires in a year. Southwest shareholders would need to give prior approval for an extension.Shareholder rights plans, or “poison pills,” allow existing shareholders to acquire shares at a discounted rate to discourage a takeover by an outside entity. Southwest's plan is triggered when a shareholder acquires 12.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines