Elliott Owns Enough Southwest Shares to Call for a Special Meeting
Skift Take
Elliott is amping up the pressure on Southwest. Now that it's crossed the threshold in owning 10% of the carrier's common stock shares, the hedge fund could call a special meeting to force a vote on whether to oust Southwest CEO Bob Jordan and chairman Gary Kelly.
Elliott Investment Management now owns 10% of common stock in Southwest Airlines, crossing the threshold to hold a special meeting.
A series of regulatory filings posted Tuesday morning showed that the activist investor managed to convert 10% of its economic stake in Southwest into common stock. Elliott still retains an overall 11% economic stake in the airline.
Special meetings are rare and are typically used to request shareholder votes on issues that cannot wait until the next genera
