Elliott Sends Letter and Presentation To Southwest Airlines Board; Discloses ~$1.9B Position
Portfolio Pulse from Benzinga Newsdesk
Elliott Management has disclosed a $1.9 billion position in Southwest Airlines and has sent a letter and presentation to the board. The firm is calling for upgraded leadership and a comprehensive business review, believing that Southwest's stock can achieve $49 per share, representing a 77% return.
June 10, 2024 | 12:59 pm
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Elliott Management has taken a significant $1.9 billion position in Southwest Airlines and is pushing for leadership changes and a comprehensive business review. They believe the stock can reach $49 per share, a 77% increase.
Elliott Management's significant investment and call for changes indicate strong confidence in Southwest Airlines' potential for improvement. The targeted $49 per share suggests a substantial upside, likely boosting investor sentiment and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100