NEW
YORK, Aug. 31, 2023 /PRNewswire/ -- Rob
Shafir, who owns an approximately 6.2% equity stake in Sculptor
Capital Management, Inc. (NYSE: SCU), today released an open letter
to the Special Committee of the Board of Directors.
Special Committee members,
I am the former Chief Executive Officer of Sculptor Capital
Management, Inc. ("Sculptor" or the "Company") and one of the
Company's largest shareholders, owning 6.2% of the Class A common
stock. I have remained a large shareholder for years because I
believe in Sculptor's long-term value creation potential. However,
I recently concluded that it is the right time for the Company to
be sold. My interests are fully aligned with all common
shareholders, as I own only publicly traded shares and have no tax
receivable agreement or other arrangements different from the
public shareholders.
Your fiduciary duties require you to maximize value for
Sculptor's shareholders. $12.76 with
committed financing is clearly superior to $11.15. It is not credible that Bidder J –
publicly reported to be comprised of leading investors such as
Boaz Weinstein, Jeff Yass, Bill
Ackman and Marc Lasry – would
not be acceptable to limited partners, especially at the 50.1%
threshold publicly reported as compared to the 85% in the deal with
Rithm Capital Corp. ("Rithm"). It is also not credible to maintain
the position that this group does not have the funds and resources
to complete this transaction. I therefore will not be supporting
your proposed sale to Rithm.
Sincerely,
Rob Shafir
Contact:
Rob Shafir
shafirrob@gmail.com
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SOURCE Concerned Shareholder and Former CEO Rob Shafir