Sculptor Capital up on $639 mln deal with Rithm Capital

Sculptor Capital Management

24/07/2023 12:23

** Shares of alternative asset management co Scultpor
Capital Management  SCU.N  rise 14.7% to $10.81 premarket    
    ** Real estate-focused asset manager Rithm Capital  RITM.N 
signed agreement to acquire Sculptor in a deal valued at about
$639 mln, companies said in a joint statement on Sunday
    ** Under the terms of the deal, Sculptor shareholders will
receive cash equal to $11.15 per share, representing a premium
of 18% on stock's last close  
    ** Transaction to be accretive to Rithm shareholders in 2025
- cos
    ** Add, Sculptor's investment and leadership teams to
continue in their roles 
    ** YTD, SCU shares up nearly 9% and RITM up 19%

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))