Stockholders Approve CrossCountry Mortgage Merger
TWO sits 38% above its 52-week low of $8.78.
Summary
Two Harbors Investment Corp. stockholders have approved the merger with CrossCountry Mortgage, moving the company closer to being acquired for $12.00 per share in cash plus a pro-rated dividend.
Key Events · M&A and Partnerships · TWO
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Merger Approved by Stockholders
Two Harbors' common stockholders voted to approve the merger with CrossCountry Intermediate Holdco, LLC, with 54,297,767 shares for and 23,570,833 against.
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Transaction Details Confirmed
Each outstanding share of common stock will convert into the right to receive $12.00 in cash, plus a pro-rated stub dividend. Preferred shares will be redeemed at $25.00 plus accumulated dividends.
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Closing Expected in August 2026
The transaction is advancing towards closing, with 48 of 53 required state regulatory approvals received. Closing is anticipated in August 2026, subject to remaining conditions.
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Executive Compensation Proposal Rejected
A non-binding advisory proposal regarding executive compensation related to the merger was not approved by stockholders.
Analysis · TWO · Real Estate & Construction
Shareholders of Two Harbors Investment Corp. have approved the all-cash merger with CrossCountry Intermediate Holdco, LLC, a critical step towards the acquisition's completion. This vote finalizes a major corporate event that has been ongoing for months, providing clarity on the company's future. The transaction is expected to close in August 2026, pending remaining regulatory approvals.
At the time of this filing, TWO was trading at $12.09 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.