Lawsuit to Block CrossCountry Merger Dismissed; Two Harbors Adjourns Vote to May 28, Board Reaffirms Support
TWO sits 42% above its 52-week low of $8.78.
Summary
The special meeting for Two Harbors Investment Corp.'s proposed merger with CrossCountry Mortgage has been adjourned to May 28, 2026, to allow for additional proxy solicitation. Crucially, a lawsuit seeking an injunction to block the stockholder vote was dismissed, with the court finding the plaintiff failed to show a likelihood of success. The Board unanimously reaffirmed its recommendation for stockholders to vote "FOR" the CrossCountry merger, which offers $12.00 per common share plus dividends. This news significantly de-risks the merger by removing a key legal challenge and provides a new timeline for the vote, which is critical for investors following the contested acquisition process involving a competing bid from UWM Holdings Corp.
At the time of this announcement, TWO was trading at $12.50 on NYSE in the Finance sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $8.78 to $14.17. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.