Southwest Airlines (LUV) Declines Comment on Buffett Takeover Speculation, Appreciates Support
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(Updated - February 28, 2019 12:30 PM EST)
Southwest Airlines (NYSE: LUV) declined to comment on speculation circulating the market Thursday that Warren Buffett's Berkshire Hathaway (NYSE: BRK-A) was targeting the company in a takeover. While the company declined to comment on the rumors, they noted the Buffett speculation has been circulating for some time and said they appreciate his support as the No. 2 shareholder.
"We appreciate Berkshire as one of our Top 10 Shareholders (#2 based on their most recent 13F filing as of 12/31/18)," a Southwest spokesperson said in an e-mail to StreetInsider.com. "There has been speculation circulating that Warren Buffet might be looking to acquire an airline for some time, and that Southwest might be a good fit. As a policy, we do not comment on speculations but appreciate Berkshire’s continued support of Southwest Airlines."
In a recent interview with CNBC, Mr. Buffett said Berkshire was recently very close to a large takeover but the deal fell through. He would not name the company. There is speculation Southwest Airlines could have been the company is question.
Shares of LUV are up 3.7% mid-day.
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