Elliott, Southwest Airlines near deal to avert board battle, Bloomberg News reports

(Reuters) – Elliott Investment Management and Southwest Airlines (NYSE:LUV) are close to reaching a settlement agreement that would avert a proxy battle over control of the airline’s board, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The parties are negotiating a deal that would grant the activist investor several board seats but fewer than a majority, the report said, adding that a settlement could be announced as soon as Thursday.