UWMC Reaffirms $12.50/Share Acquisition Offer for Two Harbors, Urges Vote Against Rival Deal

summarizeSummary

UWM Holdings Corp. (UWMC) has reiterated its $12.50 per share cash and stock offer to acquire Two Harbors Investment Corp. (TWO), criticizing TWO's board for delaying an inferior merger and urging shareholders to vote against it.

check_boxKey Events

• Reaffirmed Acquisition Offer

  UWM Holdings Corp. (UWMC) reiterated its commitment to acquire Two Harbors Investment Corp. (TWO) for $12.50 per share in cash, with a stock election option.

• Criticism of TWO Board

  UWMC criticized Two Harbors' board for delaying and attempting to salvage an "inferior" merger with CrossCountry Mortgage (CCM) that has twice failed to secure shareholder approval.

• Superiority of UWMC Offer

  UWMC highlighted its offer's superiority over CCM's "best and final proposal" of $12.00 per share (cash only), noting the significant premium to TWO's current trading price.

• Shareholder Call to Action

  UWMC urged Two Harbors stockholders to vote AGAINST the proposed CCM transaction on June 11, aligning with recommendations from ISS, Glass Lewis, and Egan-Jones.

auto_awesomeAnalysis

This filing is a critical update in the ongoing proxy battle for Two Harbors, with UWM Holdings Corp. (UWMC) reaffirming a significantly higher acquisition offer of $12.50 per share compared to the current market price of $2.64. UWMC is actively campaigning for shareholders to reject an alternative, lower-value merger, putting substantial pressure on Two Harbors' board ahead of a crucial shareholder vote on June 11. The involvement of major proxy advisory firms recommending against the rival deal further strengthens UWMC's position and increases the likelihood of a more favorable outcome for Two Harbors shareholders.