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Story summary
- Steel Partners offered $18 per share to acquire a 51% stake in Israel-based InMode, triggering nearly 8% after-hours gains in its US-listed shares.
- The offer represents a 29% premium to InMode's prior close.
- Steel Partners owns 1.3% of InMode and intends to fund the acquisition with cash and borrowings.
- The firm criticized InMode for "abysmal" shareholder returns.
- It may take the proposal to shareholders if leadership does not engage.
