Starboard Delivers Letter to Depomed Shareholders
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May 27, 2016 7:05 AM EDT
Mizuho analyst, Irina Koffler, is raising her PT on DepoMed Inc (NASDAQ: DEPO) to $23 from $19 on increased sale probability and expectations of a higher takeout valuation as Starboard involvement escalates. No change to Buy rating.
"After market, Starboard filed its proxy solicitation to... More
May 26, 2016 11:19 AM EDT
Depomed, Inc. (Nasdaq: DEPO) issued the following statement in response to Starboard Value LPs (Starboard) latest press release.
Over four weeks ago, in response to Starboards first request for a record date to call a special meeting, Depomed amended its now terminated shareholder rights plan to lower the trigger to 9.9% to allow Starboard to call a special meeting. Furthermore, we expressly communicated to Starboard that, recognizing Starboards reported status as a 9.9% shareholder, Depomed was prepared to... More
