Southwest Airlines Adopts ‘Poison Pill’ To Fend Off Activist Elliott Management has implemented a "poison pill" strategy to thwart a potential hostile takeover by Elliott Management, a well-known activist investor firm. This defensive mechanism, formally known as a shareholder rights plan, is designed to make it prohibitively expensive for Elliott Management to amass a controlling stake in the airline. The move underscores Southwest's efforts to maintain its strategic direction and corporate independence in the face of increasing pressure from activist investors seeking to influence the company's management and operations.