UWMC urges Two Harbors stockholders to reject CCM merger deal

UWM Holdings Corporation (NYSE: UWMC) has reaffirmed its proposal to acquire Two Harbors Investment Corp. (NYSE: TWO), urging Two Harbors stockholders to vote against Two Harbors' planned merger with CrossCountry Mortgage, LLC at a special meeting scheduled for June 23.

According to a statement issued by UWMC, its proposal offers stockholders the option to elect $12.50 per share in cash, compared to CrossCountry Mortgage's agreement of $12.00 per share. UWMC's proposal also includes a stock consideration option of 2.3328 shares of UWMC stock per share of Two Harbors at closing.

UWMC stated that the Two Harbors board has ruled out any formulation that includes stock consideration, which UWMC characterized as removing optionality for stockholders. The company said it remains prepared to negotiate terms if Two Harbors engages in what it described as open, good-faith discussions.

Three independent proxy advisory firms — ISS, Glass Lewis, and Egan-Jones — have each recommended that Two Harbors stockholders vote against the CrossCountry Mortgage transaction, citing concerns about the Two Harbors board's process and the availability of UWMC's proposal.

The June 23 special meeting is the fourth scheduled date following three prior adjournments. UWMC filed a definitive proxy statement with the Securities and Exchange Commission on May 14, 2026, soliciting votes against the proposed CrossCountry Mortgage merger.

UWMC is headquartered in Pontiac, Michigan, and is the indirect parent of United Wholesale Mortgage, LLC. Two Harbors is a real estate investment trust.

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