Saba Capital founder is working with Pershing Square’s Bill Ackman and Marc Lasry of Avenue Capital Group
revealed in his letter that there “may be potential bidders who were excluded from the process prior to the announcement of the Rithm transaction” and who were interested in buying Sculptor for a higher valuation.
“Though this latest bid’s headline valuation is higher than the Rithm transaction, this proposal only includes committed financing for less than half of the amount required to consummate the transaction and underestimates the amount that would be necessary by several hundred million dollars,” the statement said.
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