UWM Holdings Raises Two Harbors Acquisition Offer to $12.50/Share, Urges Vote Against Rival Bid
Summary
UWM Holdings Corp. increased its offer to acquire Two Harbors Investment Corp. to $12.50 per share in cash or stock, intensifying its proxy battle against a rival bid and urging Two Harbors shareholders to vote against the competing merger.
Key Events
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Increased Acquisition Offer
UWM Holdings raised its proposal to acquire Two Harbors Investment Corp. to $12.50 per share in cash or 2.3328 shares of UWMC stock. This follows its previous $12.00 offer on May 4, 2026.
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Proxy Fight Escalation
The company is actively soliciting Two Harbors shareholders to vote AGAINST the proposed merger with CrossCountry Mortgage at the special meeting scheduled for May 19, 2026.
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Superior Value Claim
UWMC asserts its revised offer provides 'clearly superior value' compared to CrossCountry Mortgage's $12.00 per share cash offer.
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Criticism of Target Board
UWMC criticized Two Harbors' board for refusing to engage and for prioritizing management payouts over maximizing shareholder value.
Analysis
UWM Holdings Corp. has escalated its pursuit of Two Harbors Investment Corp. by increasing its acquisition offer to $12.50 per share in cash or 2.3328 shares of UWMC stock. This revised proposal, which is higher than its previous $12.00 offer and the competing CrossCountry Mortgage bid, signals UWMC's strong commitment to the acquisition. The company is actively engaging in a proxy fight, urging Two Harbors shareholders to reject the rival merger and demand engagement with UWMC, highlighting a contentious battle for control.
At the time of this filing, UWMC was trading at $3.38 on NYSE in the Finance sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $3.08 to $7.14. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.