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Depomed rejects Horizon Pharma's latest bid

July 29 (Reuters) - Depomed Inc rejected Horizon Pharma Plc's latest unsolicited bid, saying the offer is "inadequate" and undervalues the company.

Last week, Ireland-based Horizon had raised its offer to acquire the smaller drugmaker.

(Reporting by Natalie Grover in Bengaluru; Editing by Savio D'Souza)