Southwest Airlines and its activist hedge fund foe might become friends

[Pelican Press 0]

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Southwest Airlines and its activist hedge fund foe might become friends

Southwest Airlines (

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) and the activist hedge fund that has been trying to wrest control from the carrier’s management team might be about to reach an agreement to end their continuing proxy battle.

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that the parties are negotiating a settlement that would have Southwest cede a number of seats on its board to Elliott Investment Management.

Neither Southwest nor Elliott immediately responded to a request for comment.

In June, Elliott announced it had

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in Southwest with aims to steer the company to success after a ******* of dismal business. Its plans were to nominate a slate of directors, remove CEO Bob Jordan, and instigate a “comprehensive business review” to help turn things around.

Some analysts were not quite impressed with Elliott’s plan. Jordan said he would not be leaving and has

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that would see Southwest abandon its long-standing open-seating policy and pivot to more traditional carrier behavior.

Elliott has maintained that such moves are

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. Until further notice, it is pushing for a special shareholder meeting where it will ask its fellow investors to back its plans. Last week, it even

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where it would interview its director slate one by one.

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#Southwest #Airlines #activist #hedge #fund #foe #friends

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