A Southwest Airlines plane takes off from Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Friday, July 12, 2024.
Elliott Investment Management and Southwest Airlines have been discussing a settlement that would give the activist investor significant representation on the airline's board, according to people familiar with the matter.
The settlement talks are predicated on a deal that would give Elliott less than full board control, said the people, who asked not to be named because the negotiations are confidential.
Southwest's board will drop to 12 members after Chairman Gary Kelly steps down next year, meaning Elliott would likely end up wither fewer than six selections.
The talks are in early stages, and it's possible that no deal could be reached, some sources said.
Persons:
Elliott, Gary Kelly, Bob Jordan, Jordan
Organizations:
Southwest Airlines, Hartsfield, Jackson Atlanta International, Elliott Investment Management, Bloomberg News, Dallas
Locations:
Atlanta , Georgia, Atlanta