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/pdli
About Engine Capital
Engine 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) 321-0048
aajdler@enginecap.com
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SOURCE Engine Capital, L.P.