STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW YORK - Dan Och and four other former executives of Sculptor Capital Management on Thursday pressed the hedge fund to release information about a more lucrative bid for the company which it rejected in favor of sticking by a deal with Rithm Capital.
Investors Boaz Weinstein, Bill Ackman, Marc Lasry and Jeff Yass - members of a group called Bidder J - offered to pay $12.76 per share for Sculptor, the hedge fund said on Wednesday. But Sculptor chose to stay with Rithm's $11.15 per share bid, saying the Bidder J offer has"significantly less certainty of closing.
The group's call to release the other bidders from their nondisclosure agreements is the latest move in an increasingly tense battle between some of the hedge fund industry's most storied managers over Sculptor, the firm Och founded and ran for years. Rithm agreed to buy Sculptor in July. Och called Weinstein, Ackman, Lasry and Yass"some of the most acclaimed investors of the last 25 years" and said"it seems evident that such a group could augment Sculptor's investment team while paying much more cash to the shareholders."
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