Sculptor Capital Management has reviewed and rejected a series of proposals for the company ahead of its planned merger with Rithm Capital.
The company said a special committee of independent members of its board of directors received a series of revised, unsolicited, nonbinding proposals from a consortium of bidders.
Previously: Group of hedge-fund titans makes renewed bid to buy Sculptor Capital: report
“The Special Committee has not concluded that the Consortium’s most recent revised proposal constitutes a superior proposal or is reasonably expected to lead to a superior proposal (as defined in the Company’s merger agreement with Rithm Capital Corp.),” Sculptor Capital said.
Sculptor, an alternative asset manager and specialist in opportunistic investing, said on July 23 it had entered a definitive merger agreement with Rithm. Under the terms of that deal, Rithm will pay Sculptor’s Class A stockholders $11.15 per share in cash.
The stock was up 1.4% at $11.60 in after-market trade.
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