Transportation
Southwest Seeks Truce With Elliott After Major Policy Tweaks
- Two sides have begun discussing a possible settlement
- Low-cost pioneer has made sweeping concessions to investor
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After more than four months of waging a public battle with activist investor Elliott Investment Management, low-cost pioneer Southwest Airlines Co. may finally be headed toward a truce.
The two sides have been discussing a potential settlement that would avoid a proxy fight for control of the airline’s board, according to people familiar with the matter. Elliott has proposed a framework that would give it representation but not control of the board, said some of the people, who asked to not be identified because the discussions aren’t public.