PDL BioPharma PDLI (NASDAQ) finally gave in to the pressures of activist investors, Third Point LLC, and Highland Capital Management. Mark McDade the CEO has stepped down as CEO and director effective immediately and the company has agreed to seek offers for the sale of the company in whole or in key parts. We already discussed the capitulation of the PDL's CEO back on August 20th. Now comes agreement to seek a sale whether full or partial.
For more see:
Mercury News
Blogging Buyouts
CNN Money
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