UWMC Escalates Hostile Bid for Two Harbors, Citing Proxy Advisor Support Against Rival Deal
UWMC is trading near its 52-week low of $3.08 (2.3% above the low).
Summary
UWM Holdings Corp. intensified its proxy fight to acquire Two Harbors Investment Corp., publicly challenging Two Harbors' board for rejecting its $12.50 per share offer and highlighting proxy advisor recommendations against the rival CrossCountry Mortgage merger.
Key Events · M&A and Partnerships · UWMC
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Proxy Fight Escalates
UWM Holdings Corp. publicly challenged Two Harbors' board for rejecting its $12.50 per share acquisition offer, accusing them of 'egregious corporate governance'.
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Proxy Advisors Oppose Rival Merger
Both ISS and Glass Lewis, leading independent proxy advisory firms, recommended Two Harbors stockholders vote AGAINST the proposed CrossCountry Mortgage merger.
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Higher Offer Reaffirmed
UWMC reiterated its $12.50 per share offer (cash or stock) for Two Harbors, which it states is superior to the $12.00 per share from CrossCountry Mortgage.
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Shareholder Vote Imminent
Two Harbors stockholders are urged to vote AGAINST the CrossCountry Mortgage merger at the special meeting on May 19, 2026, to preserve the opportunity for greater value.
Analysis · UWMC · Real Estate & Construction
UWM Holdings Corp. is aggressively campaigning to acquire Two Harbors Investment Corp., directly appealing to shareholders ahead of the May 19 vote on the rival CrossCountry Mortgage merger. The support from leading proxy advisory firms, ISS and Glass Lewis, recommending against the current merger, significantly strengthens UWMC's position and puts pressure on Two Harbors' board. This filing underscores UWMC's commitment to its higher offer and its belief that Two Harbors' board is not acting in the best interest of its shareholders, particularly regarding executive compensation packages.
At the time of this filing, UWMC was trading at $3.15 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5B. The 52-week trading range was $3.08 to $7.14. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.