Elliott Investment Management told shareholders Tuesday it is ready to go to a proxy fight with Southwest Airlines.
The activist investor with 11% economic interest in the airline is not happy with Southwest’s current course of action.Elliott Investment Management is ready to call for a proxy fight with Southwest Airlineswill formally call a special shareholders meeting. In a letter to shareholders, Elliott said it has named Oct. 7 as a potential record date to ensure shareholders can vote on their shares.
According to Elliott, Southwest has provided potential record dates to banks and brokers in anticipation of a proxy fight. However, Elliott said this is a defense strategy to not allow investors the opportunity to get their shares in a “voteable position prior to the record date.
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