Sculptor Capital Management has reviewed and rejected a series of proposals for the company ahead of its planned merger with Rithm Capital.
The company said a special committee of independent members of its board of directors received a series of revised, unsolicited, nonbinding proposals from a consortium of bidders. "The Special Committee has not concluded that the Consortium's most recent revised proposal constitutes a superior proposal or is reasonably expected to lead to a superior proposal ," Sculptor Capital said.
Sculptor, an alternative asset manager and specialist in opportunistic investing, said on July 23 it had entered a definitive merger agreement with Rithm. Under the terms of that deal, Rithm will pay Sculptor's Class A stockholders $11.15 per share in cash.Write to Adam Cataldo at adam.cataldo@wsj.com.