UWMC Escalates Hostile Bid for Two Harbors, Citing "Egregious Governance" and Proxy Advisor Support

summarizeSummary

UWM Holdings Corp. is publicly challenging Two Harbors' board for rejecting its higher $12.50 acquisition offer, citing "egregious corporate governance" and leveraging proxy advisor recommendations against the rival CrossCountry Mortgage merger.

check_boxKey Events · M&A and Partnerships · UWMC

• Increased Acquisition Offer Rejected

  Two Harbors' board rejected UWMC's latest $12.50 per share offer (cash or stock), reaffirming support for a lower $12.00 bid from CrossCountry Mortgage.

• Proxy Advisors Recommend Against Rival Merger

  Leading independent proxy advisory firms, ISS and Glass Lewis, have recommended that Two Harbors stockholders vote AGAINST the proposed CrossCountry Mortgage merger.

• Public Criticism of Governance

  UWMC accused Two Harbors' board of "egregious corporate governance" and prioritizing "excessive" management compensation packages over shareholder value.

• Shareholder Vote Imminent

  UWMC is urging Two Harbors stockholders to vote against the CrossCountry Mortgage deal at the upcoming special meeting on May 19, 2026.

auto_awesomeAnalysis · UWMC · Finance

UWM Holdings Corp. is intensifying its efforts to acquire Two Harbors Investment Corp., publicly criticizing Two Harbors' board for rejecting its increased $12.50 per share offer in favor of a lower $12.00 bid from CrossCountry Mortgage. This aggressive stance, backed by recommendations from leading proxy advisory firms ISS and Glass Lewis to vote against the rival CCM merger, highlights a significant corporate governance dispute. The outcome of the May 19 shareholder meeting for Two Harbors is critical, as UWMC is directly appealing to shareholders to reject the current deal and preserve the opportunity for a higher-value transaction.