Reported 12 months ago
Southwest Airlines' shares rose after announcing a shareholder rights plan to deter activist investor Elliott Management. The plan allows shareholders to buy one share at a 50% discount for every share they own if Elliot Management or another investor acquires 12.5% of the company. The company's move aims to defend against potential M&A, using a 'poison pill' strategy to safeguard shareholder interests.
Source: YAHOO