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Founding Partners of Sculptor Capital Comment on Special Committee’s Rejection of Offer to Purchase the Company for $12.76 per Share
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Rhea-AI Summary
Sculptor Capital Management rejects $12.76 per share offer from Bidder J consortium and supports $11.15 per share offer from Rithm Capital Corp.
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Sculptor's Special Committee shows continued support for Rithm's offer
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Founding Partners urge Sculptor to release more information about Bidder J consortium's offer
NEW YORK--(BUSINESS WIRE)--
The Founding Partners of Sculptor Capital Management, Inc. (“Sculptor” or the “Company”) (NYSE: SCU), which include Daniel S. Och, Harold Kelly, Richard Lyon, James O’Connor and Zoltan Varga, today commented on the recent disclosure that the Sculptor Special Committee of the Board of Directors has rejected a $12.76 per share offer by a consortium of well-known investors (identified as Bidder J in Sculptor disclosures). The Special Committee has disclosed its continued support for an $11.15 per share offer from Rithm Capital Corp (“Rithm”) (NYSE: RITM)).
The Founding Partners said:
“We call upon Sculptor to release more information about the $12.76 bid from the ‘Bidder J consortium.’ We know that $12.76 is materially higher than the $11.15 Rithm bid, and it has been widely reported that the consortium includes Boaz Weinstein, Marc Lasry, Bill Ackman and Jeff Yass, some of the most acclaimed investors of the last 25 years. It seems evident that such a group could augment Sculptor’s investment team while paying much more cash to the shareholders. Many shareholders and investors are eager to hear more about such a bid, and we urge the Board to do its fiduciary duty and waive the NDAs to maximize the bidding process and achieve the highest value for shareholders. The shareholders and investors who must consent to the Rithm bid are entitled to full disclosure about the available alternatives.”
