Acquisition Offer Raised to $12.00/Share in Cash; Board Reaffirms Recommendation
TWO sits 43% above its 52-week low of $8.78.
Summary
Two Harbors Investment Corp. announced a second amendment to its merger agreement, raising the cash acquisition price to $12.00 per share and securing additional financing, with the board reaffirming its support.
Key Events · M&A and Partnerships · TWO
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Acquisition Price Increased
The cash consideration for each share of common stock was raised from $11.30 to $12.00, a $0.70 per share increase, under the Second Amendment to the merger agreement.
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Merger Agreement Amended
This filing details the Second Amendment to the original merger agreement with CrossCountry Intermediate Holdco, LLC, dated March 27, 2026, which was previously amended on April 28, 2026.
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Additional Financing Secured
CrossCountry Intermediate Holdco, LLC, obtained an additional $1.4 billion unsecured financing commitment, bringing total committed debt financing to $3.4 billion for the merger.
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Termination Fee Raised
The company termination fee payable by Two Harbors to CrossCountry was increased from $50.0 million to $51.0 million.
Analysis · TWO · Real Estate & Construction
Two Harbors Investment Corp. has amended its merger agreement with CrossCountry Intermediate Holdco, LLC, increasing the cash acquisition price for shareholders from $11.30 to $12.00 per share. This marks the second increase in the offer, following an initial $10.80 per share agreement, and strengthens the deal's terms for shareholders. The board unanimously reaffirmed its recommendation for the merger.
At the time of this filing, TWO was trading at $12.55 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $8.78 to $14.17. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.