UWM Holdings Seeks Vote Against CrossCountry Deal, Offers $12.50 Cash or 2.3328 Shares
UWM Holdings has offered $12.50 per Two Harbors Investment share or 2.3328 UWM Holdings shares, urging stockholders to vote against CrossCountry Mortgage’s merger at the rescheduled May 28 special meeting. Three independent proxy advisors have recommended voting against the CrossCountry deal, citing UWM Holdings’ proposal as superior value creation.
1. UWM Holdings’ Superior Offer
On May 22, UWM Holdings proposed acquiring Two Harbors Investment at $12.50 in cash per share or 2.3328 UWM shares, asserting this offer delivers greater value than CrossCountry Mortgage’s proposed merger. The company noted it has received no response from the Two Harbors board since its initial proposal.
2. Proxy Advisors’ Recommendations
Three leading independent proxy advisory firms have advised Two Harbors stockholders to vote against the CrossCountry Mortgage merger, reinforcing UWM Holdings’ argument that its bid represents a more value-maximizing alternative. These advisors also opposed the non-binding compensation and adjournment proposals related to the transaction.
3. Call to Action and Next Steps
UWM Holdings is urging shareholders to cast their votes against the CrossCountry transaction, the compensation advisory referendum and the adjournment proposal on UWM’s BLUE proxy card at the rescheduled May 28 special meeting. A rejection of the merger would compel the Two Harbors board to engage with UWM Holdings on its higher-value offer.