"The board continues to unanimously support the competing bid from CrossCountry Mortgage, LLC, which delivers $11.30 per share in certain, immediate, all-cash consideration to every TWO stockholder automatically."
"UWM's headline cash election number of $12.00 per share is available only to stockholders who affirmatively elect cash during a future election window; stockholders who do not take action will receive UWMC stock currently worth approximately $8.54 per share."
Two Harbors Investment Corp. rejected UWM Holdings Corporation's acquisition proposal, citing risks related to financing, closing, business, and credibility. The board supports CrossCountry Mortgage's $11.30 per share all-cash offer, with a shareholder vote scheduled for May 19 and a targeted closing in the third quarter of 2026. UWM's proposal included a $12 per share offer, but the board noted that many shareholders would likely default to receiving stock instead of cash. CrossCountry Mortgage's deal offers immediate cash consideration and a clear path to closing.
Read at www.housingwire.com
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