Loeb's Third Point LLC Raises Stake in PDL BioPharma (PDLI), Wants Four Board Seats, Retain Consulting Firm

Investing

Published: March 22, 2007 2:58 am

From 13D Tracker

In an amended 13D filing on PDL BioPharma Inc. (Nasdaq: PDLI), Dan Loeb’s Third Point LLC disclosed an 8.8% stake (10.1 million shares) in the company. This is up from the 7.5% stake (8.6 million shares) in the original 13D filing.

Loeb also disclosed a new letter to the company’s CEO, requesting four candidates be added to the Company’s Board of Directors. Loeb also stated that he had been in discussions with a prominent consulting firm and that he would like the Board to retain that firm to review corporate and research and development spending. Loeb demanded, in the transmission, a definitive response from the CEO and the PDLI board, by the close of business on Thursday, March 22nd, as to whether they have agreed to add the four to the Board.

http://13dtracker.blogspot.com/

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.