(Reuters) – Real estate investment firm Rithm Capital will acquire hedge fund Sculptor Capital Management in a deal valuing the company at about $719.8 million, the companies said on Friday.
The latest offer of $12.70 per class A share represents a nearly 6% increase from the previous offer Rithm made earlier this month, and is 13.5% higher than the original bid of $11.15 per share.
Sculptor’s board, acting on the unanimous approval and recommendation of the company’s special committee, has approved the amended agreement and recommended that its stockholders vote in its favor, the statement said.
The company had said earlier that it will accept a sweetened bid from Rithm Capital.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shinjini Ganguli)
