Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Yo Yo who wrote (18517)	8/29/2007 4:35:06 PM
From: StockDung	Read Replies (1) of 18998

Third Point demands resignation of PDL BioPharma's chairman Wed Aug 29, 2007 4:20PM EDT Aug 29 (Reuters) - PDL BioPharma Inc's (PDLI.O: Quote, Profile, Research) largest shareholder Third Point demanded that Patrick Gage immediately resign as chairman and member of the board and that the company's management focus on the prompt sale of the company. In a conference call Tuesday, Gage sent a "confusing and unwelcome" message about PDL's strategy, Third Point, which owns 9.78 percent of PDL, said in a statement. Earlier Tuesday, PDL said it will sell off all of its marketed medicines. (Reporting by Shikhar Balwani in Bangalore) © Reuters 2007. All rights reserved.

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