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

Corporate Action

โดย Business Wire·Read original

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.

Two Harbors Investments Corp ▼

UWM Holdings Corp ▲

Impact on stocks 2

Financials± Mixed · 2 stocks

Two Harbors Investments Corp

▼ NegativeCapitalrelevance

UWMC urges stockholders to vote against the CCM merger, threatening the deal's approval.

UWM Holdings Corp

▲ PositiveCapitalrelevance

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

Off-coverage companies 1

CrossCountry Mortgage, LLCPrivate▼ Negative

Competitionrelevance

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