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Starboard’s Stealth Depomed Stake Surprises Markets
The activist firm is the latest to use a technique allowing managers to quietly build big stakes without telegraphing their intentions.
Jeffrey Smith, Starboard Value (Bloomberg) Starboard Value disclosed its newest activist target on Friday, and it apparently took investors by surprise. The New York hedge fund firm said it owned 9.8 percent of Depomed, a pharmaceutical company that specializes in neurology-related products. The stock — which has a roughly $1 billion market
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