Hedge Fund Suggests Channeling Olive Garden To Revamp ‘Undervalued’ Drug Company
Starboard Value is calling for a special meeting of Depomed's shareholders to replace the board of the drugmaker because it "lacks the leadership, objectivity and perspective to act in the best interests of shareholders."
San Francisco Business Times:
Why A Hedge Fund Wants This East Bay Drug Company To Run Like Olive Garden
A New York hedge fund wants a fresh order of growth from Depomed Inc. — like a never-ending pasta bowl. In appealing to shareholders to clear the kitchen of the Newark pain drug developer's board of directors, Starboard Value LP says it has a history of success with flipping boards and grilling up value at none other than the parent company of Olive Garden. (Leuty, 8/16)