Profile
Sector:
IndustrialsIndustry:
AirlinesCountry:
United StatesIPO:
02 January 1980Website:
http://www.southwest.comNext earnings report:
26 July 2024Last dividends:
18 June 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 20:48:20 GMTAnalysts recommendations
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LUV Latest News
Southwest Airlines (LUV) on Wednesday implemented a so-called “poison pill” shareholder rights plan to prevent activist Elliott Investment Management from acquiring additional shares.
When it rains, it pours. However, the storm will eventually pass.
Southwest Airlines Co (NYSE:LUV) has adopted a limited-duration shareholder rights plan to safeguard the interests of its shareholders in the face of an activist campaign launched by Elliott Investment Management. The plan, effective immediately, aims to prevent Elliott – or any person or group – from gaining control of the company without offering a fair premium to shareholders.
The company said in June that it has built a $1.9 billion stake in the airline, making it one of the largest shareholders.
Southwest Airlines has adopted a shareholder rights plan, also known as a poison pill, to fend off an effort from activist Elliott Management. Elliott is pushing to oust Southwest CEO Bob Jordan and chairman Gary Kelly.
Southwest Airlines Co. LUV, +0.64% said Wednesday it's adopting a limited-duration shareholder rights plan with immediate effect. A rights plan, also known as a poison pill, protects companies from hostile takeovers as it forces a bidder to negotiate with the board and not directly with shareholders.
Board Acts in Response to a Significant Accumulation by Elliott Investment Management Protects Value of All Shareholders' Investments in Southwest Airlines DALLAS , July 3, 2024 /PRNewswire/ -- The Southwest Airlines Co. (NYSE: LUV) Board of Directors today announced that it has approved the adoption of a limited-duration Shareholder rights plan ("Rights Plan"). The Rights Plan is effective immediately and will expire in one year.
Southwest Airlines (NYSE: LUV ) is in the news Wednesday after the airline company adopted a poison pill plan. Let's go over everything investors need to know about this poison pill plan below!
Shares of Southwest Airlines (LUV) ticked up Wednesday morning after the company announced it will implement a shareholder rights plan to fend off activist investor firm Elliott Management. This plan will allow shareholders to purchase one new share for every share they own at a 50% discount, but only if Elliott Management, or another investor, acquires 12.5% of the company.
The National Transportation Safety Board and Federal Aviation Administration said on Friday it will investigate a Southwest Airlines flight that departed from a temporarily closed runway in Maine earlier this week.
What type of business is Southwest Airlines Co?
Southwest Airlines Co. is a major passenger airline that operates flights in the United States and international markets. Founded in 1967, it is the largest airline in the US in terms of passenger traffic. The airline operates over 4,000 flights per day to 101 destinations in 40 states in the US and ten countries in the nearby region (Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos). The company plans to open a new route to Hawaii in 2019. Southwest Airlines Co. is the world's largest budget carrier. A key component of the company's business strategy is cost discipline and offering competitive low fares. The company's strategy includes using a single type of aircraft, the Boeing 737, with a constant fleet renewal to newer, more fuel-efficient models, as well as optimizing route structures.
What sector is Southwest Airlines Co in?
Southwest Airlines Co is in the Industrials sector
What industry is Southwest Airlines Co in?
Southwest Airlines Co is in the Airlines industry
What country is Southwest Airlines Co from?
Southwest Airlines Co is headquartered in United States
When did Southwest Airlines Co go public?
Southwest Airlines Co initial public offering (IPO) was on 02 January 1980
What is Southwest Airlines Co website?
https://www.southwest.com
Is Southwest Airlines Co in the S&P 500?
Yes, Southwest Airlines Co is included in the S&P 500 index
Is Southwest Airlines Co in the NASDAQ 100?
No, Southwest Airlines Co is not included in the NASDAQ 100 index
Is Southwest Airlines Co in the Dow Jones?
No, Southwest Airlines Co is not included in the Dow Jones index
When does Southwest Airlines Co report earnings?
The next expected earnings date for Southwest Airlines Co is 26 July 2024