Engine Capital Issues Open Letter to Board of PDL BioPharma
PDL BIOPHARMA (PDLI)
Last pdl biopharma earnings: 3/11 04:05 pm
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US:NASDAQ Investor Relations:
investor.pdl.com
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Source: PR Newswire
NEW YORK, Oct. 23, 2019 /PRNewswire/ -- Engine Capital LP (together with its affiliates, "Engine"), a significant shareholder of PDL BioPharma, Inc. (the "Company") (NASDAQ:PDLI), with ownership of approximately 5.3% of the Company's outstanding shares, today issued an open letter to the Company's Board of Directors (the "Board") encouraging the Company to immediately cease its investment activities and commence a review of strategic alternatives, including a possible sale or liquidation of the Company.The full text of Engine's letter to the Board can be viewed at the following link:www.enginecap.com/pdliAbout Engine CapitalEngine Capital is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.Investor contact:Engine Capital, L.P.Arnaud Ajdler(212) 321-0048aajdler@enginecap.com View original content:http://www.prnewswire.com/news-releases/engine-capital-issues-open-letter-to-board-of-pdl-biopharma-300943564.htmlSOURCE Engin
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