Elliott Investment Management and Southwest Airlines have begun discussing a potential settlement that would avoid a proxy fight for control of the airline's board, Bloomberg News reported on Saturday,

Southwest Airlines (NYSE:LUV) and Elliott Investment Management have started settlement talks to avoid a proxy fight for control over the carrier’s board, Bloomberg reported Saturday, citing people familiar with the matter.

Elliott Investment Management and Southwest Airlines Co. have begun discussing a potential settlement that would avoid a proxy fight for control of the airline’s board, according to people familiar with the matter.

Elliott Investment Management is taking its fight with Southwest Airlines to investors by calling for a special shareholder meeting where they can vote on new director candidates who would ultimately steer company strategy.

Elliott Investment Management has a new way to garner the attention of Southwest Airlines: a podcast.

Southwest has hit back at activist investor Elliott after the firm called for a Special Meeting of Shareholders to elect eight new director candidates.

The war of words between Southwest Airlines and its minority shareholder Elliott Investment Management continues as the airline refutes Elliott's request to hold a special shareholder meeting later this year.

The airline says activist investor Elliott Management doesn't understand its business and has an "insatiable need" to place its interests ahead of other shareholders.

Tom Fitzgerald, TD Cowen vice president of equity research, joins Morning Brief to discuss the proxy battle between Elliott Management and Southwest Airlines (LUV). Fitzgerald explains that the proxy battle will "continue to add a lot of noise into the shares" for Southwest.