Reported 12 months ago
Southwest Airlines has implemented a poison pill strategy after activist investor Elliott Investment Management urged for modifications within the company. Each common stock share will be issued one right, with the rights becoming exercisable if any individual or group acquires 12.5% or more of the company's shares. This move is a defensive measure against hostile takeover attempts, as per corporate practices. Southwest Airlines expressed willingness to engage positively with Elliott Investment Management for sustainable value creation.
Source: YAHOO