Sculptor Sale Sparks Fierce Competition Among Investors
Dan Och, founder of hedge fund firm Sculptor Capital Management, has criticized the potential sale of the company, marking the latest development in an ongoing feud between Och and the firm.
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Sculptor Capital Management
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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.
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.