ISS Recommends Two Harbors Stockholders Vote AGAINST Rival Merger, Bolstering UWMC's Bid

summarizeSummary

UWM Holdings Corp. announced that ISS recommended Two Harbors stockholders vote against the rival CrossCountry Mortgage merger, a major boost for UWMC's increased acquisition offer.

check_boxKey Events

• ISS Recommends Against Rival Merger

  Leading proxy advisory firm Institutional Shareholder Services (ISS) has recommended that Two Harbors Investment Corp. stockholders vote AGAINST the proposed merger with CrossCountry Mortgage (CCM).

• Strengthens UWMC's Acquisition Bid

  The ISS recommendation supports UWM Holdings Corp.'s efforts to acquire Two Harbors, following UWMC's increased offer of $12.50 per share in cash or stock, which was announced on May 11, 2026.

• Criticism of Two Harbors Board Process

  ISS's report cited significant concerns regarding the Two Harbors board's approach, stating they have not capitalized on competing bids and that stockholders would benefit from rejecting the CCM transaction to encourage more productive engagement with UWMC.

• Impact on Upcoming Shareholder Vote

  The recommendation comes ahead of Two Harbors' special meeting on May 19, 2026, where stockholders will vote on the CCM merger, and could significantly influence institutional investor votes.

auto_awesomeAnalysis

This filing announces that Institutional Shareholder Services (ISS), a key proxy advisory firm, has recommended Two Harbors stockholders reject the CrossCountry Mortgage merger. This recommendation significantly strengthens UWM Holdings Corp.'s position in its ongoing attempt to acquire Two Harbors, especially after UWMC recently increased its offer to $12.50 per share. ISS's stance, citing concerns about the Two Harbors board's process and the potential for stockholders to achieve greater value by engaging with UWMC, could sway institutional votes at the upcoming May 19 special meeting.