Deals
Elliott Boosts Southwest Interest to 11.3% After Truce
- Investor ups holdings in carrier after winning board seats
- Elliott continues to believe Southwest stock is undervalued
Photographer: Angus Mordant/Bloomberg
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Elliott Investment Management slightly increasing its economic exposure to 11.3% in Southwest Airlines Co. after agreeing to a truce with the carrier.
The activist investor now holds a 9.95% stake in common shares plus a 1.4% through derivatives and swaps, according to a filing confirming an earlier report by Bloomberg News. The common shares portion was a slight decrease from a 10.2% stake earlier.