Southwest Airlines has agreed to an amended agreement with activist shareholder Elliott Management, allowing the hedge fund to hold a larger stake in the airline. Elliott, backed by investor Paul Singer, can now own up to 19.9% of Southwest’s shares until after its 2026 annual shareholder meeting.
The deal marks a further concession by Southwest Airlines to Elliott’s demands, following previous agreements that reduced the airline’s independence and control. Chief Transformation Officer Ryan Green is also stepping down in April as part of the agreement.
Source: https://www.marketwatch.com/story/southwest-agrees-activist-investor-elliott-can-own-up-to-19-9-stake-until-2026-df9400e7