Activist Elliott, Southwest Airlines to begin settlement discussions, Bloomberg News reports

Elliott has proposed a framework that would give it representation on Southwest's board but not control, the people said, adding that the talks, which were progressing toward a resolution as of Saturday, have not been finalized and could fall through. Southwest and Elliott did not immediately respond to a Reuters' request for comment. The activist investor which owns 10% of Southwest's common stock, has pushed for months to replace some members of the board, oust CEO Bob Jordan, and review its strategy to improve financial performance and boost the share price.