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Depomed Announces Record Date to Determine Shareholders Entitled to Request Special Meeting

Depomed, Inc. DEPO, +5.13% ("Depomed" or the "Company") today announced that it has established the close of business on April 26, 2016 as the Request Record Date to determine shareholders entitled to request the Special Meeting of Shareholders (the "Special Meeting") proposed by Starboard Value LP ("Starboard").

Starboard now has 30 days to submit a request to hold a Special Meeting signed by holders of 10% or more of the Company's shares as of the Request Record Date. The date of such Special Meeting will be established by Starboard and could occur within 35-60 days after Starboard submits the meeting request. Recognizing Starboard's communications to Depomed regarding making this an efficient process and Starboard's stated need to immediately bring to a vote the replacement of the entire Board, Depomed proposes to hold the meeting as soon as possible.

Today Depomed sent the following letter to Starboard:

April 25, 2016

Starboard Value and Opportunity Master Fund Ltd
c/o Starboard Value LP
777 Third Avenue, 18th Floor
New York, New York 10017
Attention: Jeffrey C. Smith

Dear Jeff,

Depomed is in receipt of your letter dated April 7, 2016 in which you ask to set a "Request Record Date" under our Bylaws to commence the process of calling a Special Meeting of Shareholders ("Special Meeting") to remove our entire Board of Directors ("Board").

Depomed's Board has fixed the close of business on April 26...


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