Boaz Weinstein and his collection of bidders have updated their offer to acquire Sculptor Capital (SCU), aiming to address some of the concerns the board’s special committee outlined last week, Bloomberg’s Katherine Burton reports, citing people familiar with the matter. While the offer remains at $12.76, Weinstein has beefed up its equity commitments, cut risks associated with debt financing, and boosted the damages it would pay if it fails to consummate the deal, the author says. Sculptor previous accepted Rithm Capital’s (RITM) lower bid of $11.15 per share, the author notes.
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Read More on SCU:
- Sculptor founding partners request more information about $12.76 bid
- Sculptor committee says bidder consortium proposal not superior
- Dan Och asks Sculptor to release records on Rithm agreement
- Sculptor Sale Drama Gets Interesting; Weinstein/Ackman Make Rival Offer
- Boaz Weinstein bid over $12 per share for Sculptor, WSJ reports
