US Fund Steel Partners Threatens Medical Device Firm InMode Over Takeover Bid
Translated & summarized from TheMarker by baba
US investment fund Steel Partners is escalating its fight for control of medical device company InMode, accusing its board of obstructing a takeover bid. The company stated it had not yet received the fund's letter. The dispute involves a prior offer to acquire InMode for about 1.1 billion shekels, which expired in September.
The story in 5 lines · by baba
- Steel Partners accuses InMode's board of directors of obstructing its takeover bid.
- The American fund is a shareholder in the medical device company InMode.
- InMode stated it had not yet received the letter from Steel Partners.
- A previous takeover offer for InMode, led by CEO Moshe Mizrahi, expired on September 16.
- The expired offer valued the company at approximately 1.1 billion shekels.
American investment fund Steel Partners, a shareholder in medical device company InMode, is renewing its battle for control of the firm. Steel Partners accuses InMode's board of directors of thwarting a takeover offer it submitted. The fund stated that the board's actions are obstructing the acquisition process.
InMode has responded that it has not yet received the letter from Steel Partners. The dispute centers on a proposed acquisition of the company by a group of investors led by InMode CEO Moshe Mizrahi. This offer, valued at approximately 1.1 billion shekels, expired on September 16 without a deal being completed.