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East Bay drug company pushed again to sell — this time from the inside
San Francisco Business Times

Depomed Inc., which last year stared down a hostile takeover bid, now is getting pushed by investor Starboard Value LP to sell.

The New York-based activist investor, which has a 9.8 percent stake in Newark-based Depomed (NASDAQ: DEPO), said in a letter Friday to Depomed President and CEO Jim Schoeneck that it is “highly concerned” about board governance, “questionable” capital allocation decisions and “egregious actions” to prevent the company’s acquisition.

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