Hedge Fund Titans Compete with Rival Offers for Sculptor Capital
A group of hedge fund investors led by Boaz Weinstein, including Bill Ackman and Marc Lasry, has made a rival offer of $12 per share to acquire hedge fund Sculptor Capital Management, surpassing the previous deal of $11.15 per share. The financing for the offer is expected to come from their personal funds. However, Sculptor Capital has rejected the offer, stating that it lacks adequate committed funding and underestimates the necessary amount by several hundred million dollars. The sale to Rithm Capital is still expected to close in Q4, but if the Weinstein-led group succeeds, they are likely to install new management.
