PDL BioPharma Enters into Cooperation Agreement with Engine Capital
"We are pleased to welcome Alan to PDL's Board," said
"I am excited to join PDL's Board at this important juncture and believe there are significant opportunities to realize value," said
"We appreciate the constructive engagement we have shared with PDL's Board and management team," said
Under the terms of the agreement, Engine has agreed to abide by customary standstill and voting provisions until the earlier of 30 days prior to the deadline for stockholder nominations of directors for the 2021 Annual Meeting or 120 days prior to the first anniversary of the 2020 Annual Meeting. The complete agreement between PDL and Engine will be filed on a Form 8-K with the
Throughout its history, PDL's mission has been to improve the lives of patients by aiding in the successful development of innovative therapeutics and healthcare technologies.
For more information please visit www.pdl.com.
This press release contains certain forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future results and performance, such that our actual results and performance may differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. The Company is subject to risks and uncertainties described in the Company's annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis and expectations only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly release the results of any revision or update of these forward-looking statements, whether as a result of new information, future events or otherwise.
Important Additional Information and Where to Find It
The Company plans to file a proxy statement (the "2020 Proxy Statement") with the
Stockholders will be able to obtain, free of charge, copies of the 2020 Proxy Statement, any amendments or supplements thereto and any other documents (including the WHITE proxy card) when filed by the Company with the
Participants in the Solicitation
The Company, its directors and certain of its executive officers and other employees may be deemed to be participants in the solicitation of proxies from stockholders in connection with the 2020 Annual Meeting. Additional information regarding the identity of these potential participants, none of whom owns in excess of one percent (1%) of the Company's shares, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the 2020 Proxy Statement and other materials to be filed with the
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