Weinstein-Ackman Backed Consortium Increases Sculptor Capital Bid Challenging Rithm
Portfolio Pulse from Vandana Singh
A consortium of investors led by Boaz Weinstein, including William Ackman and Marc Lasry, has increased their bid for Sculptor Capital Management (NYSE:SCU), challenging the standing agreement with Rithm Capital Corp (NYSE:RITM). The new offer, at approximately $13 per share, is a 60-cent increase from the initial proposal. This development puts the consortium in a strong position to take control over Sculptor. SCU shares are up 7.12% at $12.19.
October 03, 2023 | 6:25 pm
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POSITIVE IMPACT
The increased bid from Weinstein's consortium for Sculptor Capital Management has led to a rise in SCU's share price.
The increased bid from Weinstein's consortium has made them a strong contender for taking control over Sculptor Capital Management. This has led to a positive sentiment among investors, resulting in a rise in SCU's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The increased bid from Weinstein's consortium for Sculptor Capital Management challenges the standing agreement with Rithm Capital Corp.
The increased bid from Weinstein's consortium challenges the standing agreement between Sculptor Capital Management and Rithm Capital Corp. This could potentially lead to a negative sentiment among RITM's investors, impacting its share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80