Mizuho Securities Raises Price Target on Depomed (DEPO) Following Starboard's Activism Announcement; Reiterates Neutral

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Go back to Mizuho Securities Raises Price Target on Depomed (DEPO) Following Starboard's Activism Announcement; Reiterates Neutral

Depomed Issues Statement in Response to Starboard Value LP 13D Filing

April 8, 2016 9:06 AM EDT

NEWARK, Calif., April 8, 2016 /PRNewswire/ -- Depomed, Inc. (NASDAQ: DEPO) ("Depomed" or the "Company") today issued the following statement in response to the Schedule 13D filed April 7 with the Securities and Exchange Commission by Starboard Value LP ("Starboard"):

Depomed welcomes open communications with its shareholders and values constructive input toward the goal of enhancing shareholder value. Depomed... More

Starboard Delivers Letter to Depomed CEO and Board of Directors

April 8, 2016 8:01 AM EDT

NEW YORK, April 8, 2016 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of Depomed, Inc. (NASDAQ: DEPO) with an ownership interest in approximately 9.8% of Depomed's outstanding shares, today announced it has delivered a letter to President and CEO, Jim Schoeneck, and the Depomed Board of Directors.

The full text of the letter follows:

April 8, 2016

Depomed, Inc.   7999 Gateway Boulevard, Suite 300   Newark, CA 94560   Attn: Jim Schoeneck, President and Chief Executive Officer 

cc: Board of Directors

Dear Jim,

Starboard Value LP, together with its... More