InMode to review Steel Partners' buyout offer, shares up
BUZZ-InMode to review Steel Partners' buyout offer, shares up ** U.S.-listed shares of Israel-based medical device maker InMode INMD.O up 1.5% at $15.23 premarket
** Co confirms its board received an unsolicited acquisition proposal from Steel Partners, an investment firm and long-time shareholder
** INMD says a special committee of independent directors, along with legal and financial advisers, will review Steel's proposal
** On Thursday, Steel Partners offered to buy INMD for $16.75 per share in cash, valuing INMD at about $963 million, according to Reuters calculations
** Last month, INMD said it had received an unsolicited proposal from a group that included INMD's CEO Moshe Mizrahy Mizrahy to buy all shares not already owned by the group for $16.20/shr in cash
** As of last close, INMD up 2.2% YTD
(Reporting by Kunal Das in Bengaluru)
Recent news on InMode
See all newsBrief: Inmode Haifa District Court Denied Sp Strategic Holdings' Request For Temporary Injunctive Relief In Its Entirety
InMode Ltd. reports results for the quarter ended June 30 - Earnings Summary
Brief: Inmode Q2 Revenue USD 95.589 Million Versus. Ibes Estimate USD 93 Million
InMode Q2 revenue beats estimates on steady U.S. demand
Brief: Steel Partners Urges Inmode Shareholders To Vote Against The Re-Election Of Dr. Hadar Ron And Against Extraordinary Special Committee Compensation At The July 30 Annual General Meeting