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.
Morning Brief Anchors Brad Smith and Madison Mills break down the latest development for Southwest Airlines, explaining its "poison pill" tactic hoping to fend off potential M&A.
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