American hedge fund manager and founder of Saba Capital Management, Boaz Weinstein and his consortium of bidders have updated their purchase offer for Sculptor Capital Management Inc SCU in response to concerns outlined by the board's special committee in a recent proxy filing. This consortium, which includes billionaires such as Bill Ackman, Marc Lasry, and Jeff Yass, increased its offer by 51 cents per share the previous week. While Weinstein's offer remains at $12.76 per share, it has strengthened its equity commitments, removed risks associated with debt financing, and increased the damages it would pay if the transaction fails to materialize. Sculptor had previously accepted a lower bid of $11.15 per share, approximately $639 million, from Rithm Capital Corp RITM in July. As of an August 30 filing, Sculptor still preferred Rithm's offer, Bloomberg noted, citing various concerns regarding the higher bid from Weinstein's group.