InMode rises after Steel Partners makes higher buyout offer

InMode

09/07/2026 14:52

** U.S.-listed shares of Israel-based medical device maker InMode INMD.O rise 4.2% to $15.06 
** Steel Partners, an investment firm and long-time InMode shareholder, offers to buy co for $16.75 per share in cash
** Offer values INMD at about $963 million, as per Reuters calculations based on shares outstanding; offer represents a premium of about 15.8% to stock's last close of $14.46
** Bid tops CEO Moshe Mizrahy's earlier $16.20 per share proposal by about $32 million 
** Last month, INMD said it had received an unsolicited proposal from a group including Mizrahy to buy all shares not already owned by the group for $16.20/shr in cash
** Steel urges INMD's board to form an independent committee and engage with its offer; also calls for Mizrahy's removal, alleging conflicts tied to his insider-led bid
** Including session's move, INMD up 2.04% YTD 

 (Reporting by Kunal Das in Bengaluru)
 ((Kunal.Das2@thomsonreuters.com;))