NEW
YORK, July 24, 2023 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman LLP is investigating the
proposed $639 million acquisition of
global asset manager Sculptor Capital Management Inc. (NYSE: SCU)
by fellow asset manager Rithm Capital Corp. J&H is concerned
about the inadequacy of the $11.15
per share price being offered as well as potential conflicts of
interest.
For a no-cost consult and to learn more, please click
here or visit: https://julieholleman.com/?p=3095
Sculptor is a global asset manager that manages $34 billion of assets. The company was originally
founded as Och-Ziff in 1994 but changed its name in 2019 in the
wake of several government investigations. Sculptor's largest
shareholder is Jimmy Levin, who is
also the company's CEO and CIO. The company's second largest
shareholder is founder Daniel S.
Och.
On July 24, 2023, Sculptor and
Rithm announced that Rithm had agreed to buy all of Sculptor's
Class A shares of stock for $11.15
per share. This is less than the company's 52-week high trading
price of $11.40 per share, and much
less than analyst price targets of $13 per share.
After the deal closes, Sculptor is expected to continuing
operating "as is," and its management team will remain in place. In
addition, certain Sculptor shareholders are being given the chance
to "roll over" their shares into the company post-close. The fact
that management is staying on and certain shareholders will
continue participating in the company's upside—while other
shareholders will be cashed out for an inadequate $11.15 per share—presents potential conflicts of
interest.
The deal is expected to close in the fourth quarter of 2023.
For more information, please submit your information here, or
contact W. Scott Holleman by email
at scott@julieholleman.com or by telephone at (929) 415-1020.
ABOUT THE FIRM
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation. The firm's attorneys litigate in state and
federal courts across the nation and have helped secure hundreds of
millions of dollars for aggrieved companies and their shareholders.
For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising.
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SOURCE Julie & Holleman LLP
