Rithm Capital Corp. (NYSE: RITM; “Rithm”) completed its previously announced acquisition of Sculptor Capital Management Inc. (“Sculptor”) for $12.70 per Class A share in a transaction valued at approximately $719.8 million. In connection with the completion of the transaction, Sculptor’s common stock will cease trading on the New York Stock Exchange and will be delisted.
“The completion of this transaction is a significant milestone for our team and an important next step in the growth and evolution of Rithm,” said Michael Nierenberg, Chairman, Chief Executive Officer, and President of Rithm Capital. “We are excited to bring together our talented teams and create a superior global asset management business focused on delivering significant, long-term value for our shareholders and fund investors.”
Jimmy Levin, Chief Investment Officer and Executive Managing Partner of Sculptor, said “We are extremely happy to combine forces with Rithm. This transaction positions us for long-term success and our team is invigorated to continue our mission of providing attractive returns to our fund investors.”
Citi acted as the exclusive financial advisor to Rithm and Skadden, Arps, Slate, Meagher & Flom LLP and Debevoise & Plimpton LLP served as legal counsel to Rithm. PJT Partners acted as financial advisor and Latham & Watkins LLP acted as legal counsel to Sculptor’s Special Committee. J.P. Morgan Securities LLC acted as financial advisor, Ropes & Gray LLP acted as legal counsel, and Gibson Dunn & Crutcher LLP, as tax counsel to Sculptor.
Source: Company Press Release