Rithm to Buy Sculptor in Wake of Legal Dispute With Och (1)

Rithm Capital Corp. agreed to buy Sculptor Capital Management Inc., the asset manager that had been embroiled in a legal dispute with Dan Och, in a deal valued at about $639 million.

Under the terms of the deal, Sculptor’s Class A shareholders will receive $11.15 per share in cash or they can choose to roll over their Sculptor stakes into partnership units in one or more Rithm subsidiaries, the companies said in a statement Monday. That’s about 18% higher than Sculptor’s Friday closing price.

Sculptor shares rose 16% to $10.92 at 8:52 a.m. in New York.

The Sculptor ...