Hedge-fund titans unite for renewed Sculptor Capital acquisition attempt

A group of hedge-fund managers, led by Boaz Weinstein and including Bill Ackman and Marc Lasry, has made an improved bid to acquire Sculptor Capital Management. The group's previous bid had been rejected, but they have now increased their offer to over $12 per share. Financing for the deal is expected to come from their personal fortunes. Sculptor Capital shares closed at $11.20 on Friday and are up 29% year to date.