UWM Urges Two Harbors Shareholders to Oppose CrossCountry Deal After Second Adjournment

MT Newswires Live05-29

UWM (UWMC) said Thursday it urged Two Harbors Investment (TWO) stockholders to vote against the proposed CrossCountry Mortgage merger following the second adjournment of Two Harbors' special meeting to vote on the transaction.

UWM also reiterated its competing proposal of $12.50 per share in cash or 2.3328 shares of UWM stock, arguing it provides superior value to the CrossCountry deal, according to a statement.

The company said the repeated adjournments reflect what it views as continued resistance by the Two Harbors board to engage on its offer and reiterated its view that the CrossCountry transaction is inferior.

UWM continues to recommend that stockholders vote against the CrossCountry merger and related proposals, according to the statement.

Two Harbors did not immediately respond to a request for comment from MT Newswires.

Price: 3.18, Change: +0.07, Percent Change: +2.42

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