Two Harbors Stockholders Approve CrossCountry Merger, $12.00 Cash Deal Nears Close
TWO sits 38% above its 52-week low of $8.78 on elevated volume (3.0× avg).
Summary
Two Harbors Investment Corp. stockholders have approved the merger with CrossCountry Mortgage, a critical step towards closing the all-cash deal. This approval follows a contentious period that included multiple amended offers, a competing bid from UWM Holdings, and a shareholder lawsuit. Shareholders will receive $12.00 per share in cash plus a pro-rated stub dividend. The transaction is now highly likely to close, pending remaining state regulatory approvals, with an expected closing in August 2026.
At the time of this announcement, TWO was trading at $12.10 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: Dow Jones Newswires.