Deal Drama Ends As Two Harbors Picks CrossCountry Over UWM

Benzinga03-27

Under the terms of the deal, TWO stockholders will receive $10.80 per share in cash for the merger. In addition to the cash payout, holders of TWO’s preferred stock will have their shares redeemed at ...

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It will operate as a wholly owned subsidiary of CrossCountry.This strategic move aims to create a fully integrated mortgage company. It will combine TWO’s mortgage servicing rights portfolio with CrossCountry’s retail origination platform.As of December 31, TWO’s cash and cash equivalents stood at $842.3 million.Ron Leonhardt, Founder and CEO of CrossCountry Mortgage stated “This transaction further solidifies CCM’s position as a one-of-one player in the mortgage market, with the #1 retail origination platfo","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TWO":"TWO HARBORS INVESTMENT CORP","BK4110":"抵押房地产投资信托"},"translate_title":"Two Harbors选择CrossCountry而不是UWM，交易戏剧性结束","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWO":0.9},"content_text":"Under the terms of the deal, TWO stockholders will receive $10.80 per share in cash for the merger.\nIn addition to the cash payout, holders of TWO’s preferred stock will have their shares redeemed at $25.00 per share, plus any accumulated dividends.\nThe companies expect the transaction to close in the second half of 2026, pending customary closing conditions and stockholder approval.\nOnce the transaction is finalized, TWO common stock will be delisted from the New York Stock Exchange. It will operate as a wholly owned subsidiary of CrossCountry.\nThis strategic move aims to create a fully integrated mortgage company. It will combine TWO’s mortgage servicing rights portfolio with CrossCountry’s retail origination platform.\nAs of December 31, TWO’s cash and cash equivalents stood at $842.3 million.\nAs part of the deal, CrossCountry, on behalf of TWO, will pay UWMC a termination fee of $25.4 million per the terms of the original merger agreement.\nRon Leonhardt, Founder and CEO of CrossCountry Mortgage stated “This transaction further solidifies CCM’s position as a one-of-one player in the mortgage market, with the #1 retail origination platform for the third year in a row and the #6 non-bank servicing platform with over $370 billion in unpaid principal balance.”\nTwo Harbors Investment Corp. is slated to provide its next financial update on April 27, 2026 (estimated).\nAnalyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $14.15. Recent analyst moves include:\nSignificance: Because TWO carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.\nTWO Price Action: Two Harbors Investment shares were down 2.15% at $11.15 at the time of publication on Friday, according to Benzinga Pro data.\nPhoto via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622924878","isCrawlerRequest":true}