Matt Levine, Columnist

Sculptor Sticks With the Deal It Knows

Also an Elon Musk put, search funds, NAV loans and college admissions consulting.

September 18, 2023 at 6:43 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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The shareholders of publicly traded hedge fund management firm Sculptor Capital Management Inc. have a choice between two options:

They get to pick between a pretty certain $11.15 per share and a riskier $12.76 per share. Sculptor’s board wants them to pick the safer $11.15. Last Thursday, Sculptor filed a revised proxy statement, again making the case for the $11.15 Rithm deal.