Southwest Airlines jumps after report of Elliott’s $2 bln stake
June 10 (Reuters) – Southwest Airlines’ (LUV.N), opens new tab shares rose about 7% in premarket trade on Monday after the Wall Street Journal reported that activist investor Elliott Investment Management had built a nearly $2 billion stake in the U.S. carrier.
According to the Journal’s report on Sunday, Elliott is one of Southwest’s largest investors and plans to push for changes aimed at reversing the airline’s underperformance.
Southwest and Elliott did not immediately respond to Reuters’ request for comment.
Source: REUTER
