Final Regulatory Approval Clears Path for TWO-CrossCountry Mortgage Merger
TWOD is trading near its 52-week low of $25.05 (1.4% above the low).
Summary
Two Harbors Investment Corp. (TWO) has received final regulatory approval for its merger with CrossCountry Mortgage, removing the last major hurdle to closing. The company expects the merger to close on Aug. 25. The approval is a definitive step forward for the deal, which was previously announced and now moves to completion. With the stock trading near its 52-week high, the market appears to be pricing in the merger's benefits.
At the time of this announcement, TWOD was trading at $25.41 on NYSE in the Finance sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $25.05 to $26.19. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.