Two Harbors Adjourns Special Meeting to Solicit More Votes for CrossCountry Mortgage Merger
TWO sits 40% above its 52-week low of $8.78.
Summary
Two Harbors has postponed its special meeting to July 2, 2026, to gather more shareholder votes for the CrossCountry Mortgage acquisition, signaling potential challenges in securing approval for the $12.00 per share cash deal.
Key Events · M&A and Partnerships · TWO
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Special Meeting Adjourned
The special meeting of stockholders for the proposed acquisition by CrossCountry Mortgage has been adjourned to July 2, 2026.
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Proxy Solicitation Extended
The adjournment is intended to provide additional time to solicit proxies in favor of the acquisition, suggesting the company has not yet secured sufficient shareholder votes.
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Board Recommends Merger
The Board of Directors unanimously recommends stockholders vote 'FOR' the $12.00 per share cash transaction, plus a pro-rated stub dividend.
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Merger Status Update
The transaction is fully financed, 47 of 53 required regulatory approvals have been secured, and it remains on track to close in August 2026, pending shareholder approval.
Analysis · TWO · Real Estate & Construction
Two Harbors has adjourned its special stockholder meeting until July 2, 2026, to gain additional time to secure shareholder approval for the proposed acquisition by CrossCountry Mortgage. This indicates that the company has not yet garnered sufficient votes for the merger, introducing uncertainty and a potential delay in the closing of the $12.00 per share cash transaction. The board continues to unanimously recommend the deal.
At the time of this filing, TWO was trading at $12.32 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 negative market sentiment and an importance score of 8 out of 10.