Depomed Announces Decision Not To Pursue Proposed Reincorporation

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Go back to Depomed Announces Decision Not To Pursue Proposed Reincorporation

Starboard Comments on Depomed's (DEPO) Move to Withdraw Reincorporation Proposal; Remains 'Highly Concerned'

April 15, 2016 7:18 AM EDT

Starboard Value LP, one of the largest shareholders of Depomed, Inc. (Nasdaq: DEPO) with an ownership interest in approximately 9.9% of Depomed's outstanding shares, issued a statement in response to Depomed's announcement yesterday that it has withdrawn its proposed reincorporation of the Company from California to Delaware that was included in its preliminary proxy statement for the upcoming 2016 Annual Meeting.

"We read with great interest Depomed's announcement yesterday that it has decided to withdraw its Delaware Reincorporation... More