Financials Company Rithm Capital Announces Acquisition of Sculptor Cap

Rithm Capital RITM has announced an acquisition of Sculptor Cap SCU that is expected to be completed in Q4 of 2023.

Under the terms of the agreement, Rithm Capital has agreed to give Sculptor Cap $639.00 million in cash in exchange for SCU stock.

About The Companies Involved

Rithm Capital Corp operates as a real estate investment trust that provides capital and services to the real estate and financial services industries. The company's mission is to generate attractive risk-adjusted returns in all interest rate environments through a complementary portfolio of investments and operating businesses.

Sculptor Capital Management Inc is an alternative asset management firm. The company provides asset management services to its customers.

How An Acquisition Works

An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.

An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.

Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.

This article was generated by Benzinga's automated content engine and reviewed by an editor.