JPM | US Special Situations Daily: July 09, 2026

Research evidence excerpt

JPM | US Special Situations Daily: July 09, 2026

everage.”

- Link

• GTLS/BKR: Baker Hughes to Win Conditional EU Approval for $9.6b Chart Buy - Link

• INMD/SPLP:Steel Partners, a significant and long-standing shareholder of InMode Ltd. issued a letter to the Board of

Directors of the Company, offering to acquire 100% of the shares of InMode for $16.75 per share in cash. The offer price is a

20% premium to the unaffected price of $13.95. It is $0.55 per share above the $16.20 per share the CEO has offered. - Link

• BZH/DFH: The companies have issued press releases.

• BZH said it received Dream Finders’ public cash acquisition proposal (initially $25.75/share, later increased), and since

then has also drawn interest from other parties for various potential transactions as its board evaluates options to maximize

shareholder value versus staying standalone. The board told Dream Finders on June 29, 2026 that its $29.25/share offer

still significantly undervalued Beazer, influenced by the value implied by other proposals and Beazer’s standalone

outlook. Beazer said it would talk only if Dream Finders improved price, signed a customary confidentiality/standstill

agreement, and dropped exclusivity; Dream Finders raised its bid to $32.00 and dropped exclusivity but refused the

confidentiality/standstill and instead publicized the offer, which Beazer views as pressure tactics not in shareholders’ best

interests.-Link to full PR

• DFH responded saying, “Dream Finders remains committed to pursuing a transaction that delivers compelling value for

Beazer shareholders. The Company reiterates its willingness to execute an NDA with a limited standstill so the parties can

commence due diligence and Dream Finders can confirm its best offer for shareholders.”-Link to full PR