By Chris Wack
Sculptor Capital Management shares were up 16%, to $10.93, after Rithm Capital made a $639 million buyout offer for the alternative asset manager, which includes $11.15 a Class A share.
Sculptor stock hit its 52-week high of $11.40 last October, and is now up 18% in the past 12 months.
Rithm shares are up 5%, at $10.17.
The transaction represents a premium of 18% over the closing price of Sculptor’s shares on Friday.
The transaction is expected to be neutral to Rithm’s 2024 earnings and accretive in 2025. The transaction is expected to be funded from Rithm’s cash on hand and available liquidity and is expected to be accretive to Rithm shareholders in 2025.
Write to Chris Wack at [email protected]
Read the full article here
