Sculptor Capital Management (SCU) settled a lawsuit seeking to block a buyout bid by Rithm Capital (RITM) two days before a shareholder vote on the deal, Jef Feeley and Katherine Burton of Bloomberg report. The deal comes as court hearings scheduled in New York and Delaware Tuesday threatened to derail the shareholder vote that would approve the $12.70 per share deal, reports Bloomberg, which noted terms of the pact were not disclosed. Shares of Rithm Capital are up 3% to $10.07 in morning trading while Sculptor Capital is little changed at $12.69
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SCU:
- Sculptor says ISS, Glass Lewis urge holders to vote for Rithm Capital merger
- Rithm Capital upgraded to Buy from Hold at JonesResearch
- Rithm Capital acquiring Sculptor Capital for $12.70 per share
- Sculptor Capital’s special committee calls Dan Och’s lawsuit ‘baseless’
- Founding Partners of Sculptor Capital sue over proposed merger with Rithm
