PDL BioPharma Decides To Pursue Monetization Of Its Assets - Quick Facts

(RTTNews) - PDL BioPharma, Inc. (PDLI) has decided to pursue a formal process to unlock value by monetizing the company's assets and returning net proceeds to shareholders. The decision followed the the strategic review process that it initiated in September.

PDL will explore a variety of potential transactions, including a sale of the company, divestiture of its assets or businesses, a spin-off transaction, a merger or a combination. The company has decided to halt the execution of its growth strategy, and cease additional strategic investments.

Also, PDL's Board has authorized the repurchase of issued and outstanding shares of the company's common stock and convertible notes up to an aggregate value of $200 million.