Two Harbors Adjourns Merger Vote as UWM Offers $12.50 Cash or 2.3328 Shares
TWO•UWM Holdings said Two Harbors adjourned its second special meeting, as shareholders reject CrossCountry’s $12.00-per-share offer and UWM urges negotiations on its $12.50 cash or 2.3328-share proposal. UWM urged Two Harbors investors to vote against the CCM merger, compensation advisory and adjournment proposals on its blue proxy card.
1. Second Meeting Adjournment
Two Harbors has adjourned its special stockholder meeting for the second time to vote on the proposed merger with CrossCountry Mortgage after shareholders voted down further delays. The repeated postponement reflects pushback against CrossCountry’s best and final $12.00 per share offer.
2. UWM’s Superior Proposal
UWM has submitted an all-cash offer of $12.50 per Two Harbors share or 2.3328 UWM shares, positioning it above CrossCountry’s proposal. UWM urges direct, good-faith negotiations, emphasizing its proposal meets the board’s fiduciary criteria for full financing and certainty.
3. Shareholder Voting and Next Steps
UWM is calling on Two Harbors investors to vote against the CCM merger, compensation advisory and adjournment proposals using its blue proxy card. The Two Harbors board can terminate the CrossCountry transaction only after securing an alternative agreement with UWM through direct engagement.
