Rithm Capital Amends Terms of Merger Agreement to Acquire Sculptor Capital Management.
MANews-(C)2009-2023
New York-based real estate asset manager Rithm Capital Corp. (NYSE: RITM) has amended terms of its merger agreement to acquire New York-based alternative asset manager Sculptor Capital Management Inc. (NYSE: SCU) for USD 12.00 per Sculptor Cass A share, the company said.
Under the Amended Agreement, which has been unanimously approved by the boards of directors of both companies, Sculptor class A stockholders will receive USD 12.00 per share, representing an increase of 7.62% over Rithm's previously agreed price of USD 11.15 per class A share announced on July 24, 2023, and an aggregate transaction value of approximately USD676 m.
Citi acted as the exclusive financial advisor to Rithm and Skadden, Arps, Slate, Meagher & Flom LLP and Debevoise & Plimpton LLP served as legal counsel to...
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