Two Harbors Investment Says CrossCountry Mortgage Deal Offers Value, Certainty

MT Newswires Live06-22

Two Harbors Investment (TWO) on Monday urged shareholders to vote for its pending all-cash acquisition by CrossCountry Mortgage at a special meeting set for Tuesday, saying the deal offers value and certainty of a $12 per share payout.

The company said shareholders face a potential downside risk if the deal is rejected.

Two Harbors said there is "no actionable alternative on the table," as UWM (UWMC) has not submitted a revised proposal to address the board's concerns.

The company said the proposed CrossCountry Mortgage transaction has received the majority of required regulatory approvals and is progressing toward an expected closing in August, subject to remaining conditions.

UWM did not immediately respond to MT Newswires' request for comment.

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