Southwest Airlines quickly implements a limited-duration shareholder rights plan to fend off potential control by Elliott Investment Management, ensuring the protection of other shareholders. The plan, effective immediately, includes issuing one right for each share of common stock.
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This story was covered by the following sources:
Southwest Airlines approves 'poison pill' as Elliott Investment gains more shares • United Press International
Southwest Airlines to adopt plan to fend of activist investors • Yahoo Finance
Southwest Airlines adopts ‘poison pill’ plan after pressure from investor Elliott • Dallas Morning News
Southwest Air adopts 'poison pill' as activist investor Elliott takes significant stake in company • Atlanta Journal-Constitution
Southwest Air adopts 'poison pill' as activist investor Elliott takes significant stake in company • Atlanta Journal-Constitution
Southwest Starts Rights Plan in Response to Elliott Taking Stake • Yahoo Finance
Southwest Starts Rights Plan in Response to Elliott Taking Stake • Bloomberg Law
Southwest Airlines Adopts Limited-Duration Shareholder Rights Plan • Southwest Airlines
