Loeb Says Goodbye to PDL BioPharma

In an amended 13D filing after the close Friday on PDL BioPharma (PDLI), Dan Loeb's Third Point LLC disclosed they sold their remaining stake in the company.

The filling showed Loeb sold stock from 10/30 thru 11/09 at prices ranging from the high $18's to around $21 per share.

Loeb had been leading an effort to push the company for a sale, which the company has been pursuing.

In his prior filing in October, Loeb's firm disclosed they first started trimming their stake in PDL, but also said the shares remain undervalued.

Comments

[romeli:]

Good idea, anxious to see how this help the layman get to know what is going on, ie if the inormation are not padded.

2007 Nov 17 03:41 AM

[romeli:]

ok

2007 Nov 17 03:43 AM

[romeli:]

if PDLI is undervalue WHY SELLing your s or even some of your Positions.

2007 Nov 17 03:48 AM