- Fate of Sculptor, formerly one of New York’s leading hedge funds, yet to be decided
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Sculptor Capital Management was contacted by more than 70 groups expressing interest in buying the company after it said it was open to a transaction in November.
The firm, founded as Och-Ziff Capital Management and formerly one of New York’s most powerful hedge funds, revealed the number in an SEC filing on Monday as the takeover battle intensified.
The firm accepted a $639m bid from Rithm Capital last month, but some of the other bids — which may have carried a range of conditions — had valued Sculptor at more than $700m.
Founder Dan Och has said the company is worth more than Rithm Capital’s offer. There have been reports in recent days that rival hedge fund managers Boaz Weinstein, Marc Lasry and Bill Ackman were among the other higher bidders.