Steel Partners Demands CEO-Led Group Cure Disclosure Deficiencies in InMode Takeover Battle
INMD sits 22% above its 52-week low of $12.72.
Summary
Steel Partners escalated its fight over InMode's governance by issuing a letter demanding the CEO-led buyout group cure disclosure deficiencies. This follows Steel's earlier public criticism and its own $16.75/share bid, which topped the CEO group's $16.20 offer. The letter signals deepening conflict and potential legal or regulatory pressure on the CEO's proposal. The board is already reviewing both bids amid an Israeli court application by Steel to halt the CEO-led review. The outcome of this governance clash could determine which, if any, takeover succeeds.
At the time of this announcement, INMD was trading at $15.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $896.4M. The 52-week trading range was $12.72 to $16.74. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.