Loeb Says Goodbye to PDL BioPharma

Nov.12.07 | About: PDL BioPharma, (PDLI)

In an amended 13D filing after the close Friday on PDL BioPharma (NASDAQ: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.