UWMC Urges Two Harbors Stockholders to Vote Against CCM Merger Ahead of June 23 Meeting

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3▲1 ▼1Impact / 5
Summary · why it matters

UWM Holdings Corporation reaffirmed its commitment to acquire Two Harbors Investment Corp. and urged TWO stockholders to vote against the proposed merger with CrossCountry Mortgage at the upcoming special meeting on June 23. UWMC stated that its proposal offers higher value, including a full option to elect $12.50 per share in cash, compared to CCM's $12.00 per share agreement, and provides stockholder choice through stock consideration. The company criticized the TWO Board's engagement as a smokescreen and called for open, good-faith negotiations. Independent proxy advisors ISS, Glass Lewis, and Egan-Jones have all recommended voting against the CCM transaction.

Impact on assets 2

Financials± Mixed
UWM Holdings Corp
UWMC
▲ PositiveCapitalrelevance

UWMC reaffirms its competing bid with higher cash offer and independent proxy advisors recommend against CCM deal.

Off-coverage companies 1

CrossCountry Mortgage, LLCi
Private▼ NegativeCompetitionrelevance

UWMC actively campaigns against CCM's merger, and proxy advisors recommend voting against it.