PDL BioPharma Responds to Letter from Engine Capital
Arnaud Ajdler
Engine Capital, LP
1345 Avenue of the
Re: Response to Your Letter Dated
Dear Messrs. Ajdler and Favreau:
We are in receipt of your letter dated
We are in the process of reviewing the suggestions in your letter. At our September meeting, the PDL Board authorized our CEO to engage an external financial advisor to provide an independent perspective on certain of these topics. Once we complete that review, we would be pleased to meet with you to discuss your suggestions in greater detail within the confines of Regulation FD.
Very truly yours,
/s/
About
PDL's mission is to improve the lives of patients and create value for our shareholders and our people by applying our capital and expertise for the successful development and commercialization of innovative therapeutics by our partner companies. We deliver on our mission by entering into strategic transactions involving innovative late clinical-stage or early commercial-stage therapeutics with attractive revenue growth potential. For more information please visit www.pdl.com
NOTE: PDL,
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SOURCE
LHA Investor Relations Jody Cain, SVP 310-691-7100 icain@lhai.com