Michael Nierenberg, Chairman and CEO of Rithm Capital, formerly known as New Residential, discusses efforts to buy Sculptor Capital Management for $720 million. Shareholders must now vote on the deal, which has the backing of Sculptor founder and major shareholder Dan Och. Rithm Capital has around $2 billion in cash and cash equivalents on its balance sheet, enabling it to finance the acquisition, and is currently working on another large transaction, which should be finalized by the end of the quarter.
(MT Newswires)
