Southwest adopts poison pill to thwart Elliott stake push
Dallas based Southwest Airlines enacted a limited duration shareholder rights plan to deter activist Elliott Investment Management which holds about 11 percent of the shares. The plan, effective immediately and lasting a year, would dilute Elliott by allowing other shareholders to buy stock at a discount if a threshold is crossed. Elliott aims to boost stock and gain board influence, while Southwest argues the move protects fiduciary duties amid market turmoil.
MENTIONED IN THIS ARTICLE
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Elliott Investment Management
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Elliott
Keith Gottfried
Shareholder Activism Defense
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Ariel Hernandez
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Gary Kelly
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Train derailment in North Dakota sparks chemical fire
About 29 cars of a CPKC train derailed near Bordulac, North Dakota, early Friday and caught fire igniting ammonia sulfur and methanol. Officials said no injuries and minimal nearby threat though continued flames prompted a cautious response.
MENTIONED IN THIS ARTICLE
North Dakota
CPEC
Fargo
Andrew Kirking
Foster County
Kirking
Bill Suess
Suess
CPKC
Canadian Pacific Railway
Kansas City Southern
Carrington
Job Growth Slowdown Causes Split View Amid Election Pressure
June data show government and health care and social assistance drove three quarters of gains, with April to June averages about 177,000. Economists split between resilience and slowing momentum, noting solid hiring yet fading openings and steady inflation.
MENTIONED IN THIS ARTICLE
Eric Winograd
U.S
Alliance Bernstein
Joe Biden
Fed
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