Two Harbors Urges Shareholders to Vote for $11.30 CCM Merger Amidst Higher Unsolicited Bid
TWO sits 42% above its 52-week low of $8.78 on elevated volume (2.2× avg).
Summary
Two Harbors Investment Corp. is actively soliciting shareholder votes for its amended all-cash merger with CrossCountry Mortgage at $11.30 per share, despite a recently disclosed unsolicited $12.00 per share bid from UWM Holdings Corp.
Key Events · M&A and Partnerships · TWO
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Merger Solicitation
Two Harbors is actively soliciting shareholder votes to approve its amended all-cash merger with CrossCountry Mortgage (CCM).
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Offer Price
The proposed merger with CCM offers common stockholders $11.30 in cash per share, with preferred stock to be redeemed at $25.00 per share.
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Board Recommendation
The Board of Directors unanimously recommends that stockholders vote "FOR" all proposals related to the CCM merger.
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Competing Bid Context
This solicitation occurs concurrently with news of an unsolicited $12.00 per share bid for Two Harbors from UWM Holdings Corp., which is higher than the CCM offer.
Analysis · TWO · Real Estate & Construction
This DEFA14A filing serves as additional proxy material, actively urging shareholders to approve the amended all-cash merger agreement with CrossCountry Mortgage (CCM) for $11.30 per common share. The board unanimously recommends this offer. However, this solicitation comes on the same day that UWM Holdings Corp. publicly announced an unsolicited, higher bid of $12.00 per share for Two Harbors. The company's continued push for the lower CCM offer, despite a superior public bid, creates significant uncertainty and potential conflict for shareholders. Investors should carefully consider both offers and the board's rationale, especially given the current stock price of $12.48, which suggests market expectation of a higher valuation. The May 19, 2026, voting deadline is critical.
At the time of this filing, TWO was trading at $12.48 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 9 out of 10.