Elliott Investment Management, a big company that buys and sells stocks, has bought a lot of shares in Southwest Airlines, a company that flies planes. Elliott thinks that Southwest Airlines is not doing very well and wants to change the people in charge, like the CEO and the chairman. They want to make the company better and worth more money. But Southwest Airlines doesn't want Elliott to have too much control, so they made a rule that stops Elliott from buying more shares easily. Elliott still wants to change things and might try to get their own people on the board that makes decisions for the company. Read from source...

- Elliott Investment Management's criticism of Southwest Airlines' poor execution
- Elliott's plan to push for changes to enhance the airline's underperforming shares
- Southwest's implementation of a limited-duration shareholder rights plan
- Elliott's filing hinting at future plans to propose potential board candidates
- Elliott's increasing stake in Southwest, rapidly accumulating shares
- Potential boardroom challenge and special meeting where an election could be held

Key points:
- Elliott Investment Management has a 7% stake in Southwest Airlines, including common stock and derivatives
- Elliott is pushing for a management overhaul, arguing that Southwest is undervalued and requires a new strategy
- Southwest implemented a poison pill to prevent a takeover by Elliott
- Elliott reiterated its intention to propose board candidates and allow shareholders to vote on them
- Elliott's increasing stake could lead to a special meeting where an election could be held

Summary:
Elliott Investment Management, an activist investor, has a 7% stake in Southwest Airlines and is pushing for a management overhaul. The firm argues that Southwest is undervalued and needs a new strategy to enhance its performance. Southwest has resisted Elliott's efforts by implementing a poison pill to prevent a takeover. Elliott has been rapidly accumulating shares and could trigger a special meeting where an election could be held.

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