Depomed (DEPO) to Seek a Sale - Report
- Energy weighs on S&P, Dow; techs boost Nasdaq
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Depomed (Nasdaq: DEPO) is up sharply in pre-open trade (+12.9%) following reports from Reuters the company is preparing to sell itself amid pressure from activist investor Starboard Value LP.
Negotiations with potential buyers are expected to start after the company receives a court decision clarifying the patent exclusivity of Nucynta, which is expected by month end.
The company is working with Morgan Stanley, which last year helped the company rebuff a $3 billion unsolicited stock-for-stock offer from Horizon Pharma Plc (Nasdaq: HZNP).
A separate report from the New York Post said the company has already rebuffed an offer KKR-backed Arbor Pharmaceuticals.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Alaska Air Group (ALK)/Virgin America (VA) may get DOJ approval today - WSJ
- Depomed (DEPO) calls active on elevated volatility