Elliott Takes Nearly $2 Billion Stake in Southwest Airlines | News World

Skift Take

It’s unclear what changes Elliott will push for at Southwest. Other companies Elliott has built activist stakes in have seen their CEOs resign.

Elliott Investment Management, an activist fund, has built a nearly $2 billion stake in Southwest Airlines, The Wall Street Journal reported — citing sources. 

The stake made Elliott one of Southwest’s largest investors. Southwest has a market cap of approximately $16.6 billion. The carrier did not immediately respond to a request for comment. 

According to The Journal report, Elliott plans to “engage” with Southwest’s management team and press on changes to reverse the carrier’s recent underperformance. It’s unclear what this engagement would look like. Elliott also did not immediately respond to a request for comment. 

Elliott has built major stakes in other large companies like SoftBank, Texas Instruments and Johnson Controls. The firm has also…

Source skift.com

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