Overview
- CrossCountry raised its all-cash bid for Two Harbors to $11.30 per share after an unsolicited competing proposal from UWM.
- The Two Harbors board unanimously approved the amended merger and set a May 19 special meeting, urging shareholders to vote in favor.
- Directors said the CrossCountry proposal remains superior because the price is fixed cash and not subject to a financing condition.
- If the deal closes, Two Harbors would be delisted from the New York Stock Exchange and become a CrossCountry subsidiary.
- Preferred Series A, B, and C shares would be redeemed at $25 plus any unpaid dividends, and the companies still aim to close in the third quarter of 2026 pending shareholder and regulatory approvals, with integration work already underway.