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Depomed Spikes 17% As Activist Investor Discloses Large Stake

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Shares of Depomed Inc DEPO 10.47% surged higher by more than 18 percent on Friday after notable activist investment firm Starboard Value disclosed it has taken a 9.8 percent stake in the company.

Starboard Value said in its regulatory filing that it believes shares of Depomed are "undervalued"...