Elliott has edged itself closer to calling a special shareholders meeting with Southwest shareholders.
Elliott currently holds voting power over 58 million shares, roughly 9.7% of beneficial ownership of the Dallas-based airline. That is 0.3% away from the ability to call a special shareholders meeting under Southwest’s bylaws, and attainable this week if Elliott were to buy up more shares. Elliott currently holds a total 11% economic interest in Southwest.amid lackluster financial results.
Elliott would still need to request a shareholder meeting from Southwest Airlines and it’s unclear how long it would take to organize the meeting.Southwest and Elliott are scheduled to meet on Sept. 9, according to Elliott’s letter. On Sept. 26, Southwest will host its scheduled investor day where more details are expected on its new seating policy and premium options announced in July., Aviation Reporter.
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