UWMC Issues Statement on Two Harbors' Second Failure to Approve CCM Deal

Author: Işıl Şahin…

UWMC Issues Statement on Two Harbors' Second Failure to Approve CCM Deal

UWM Holdings Corporation (UWMC) released a statement following the second adjournment of Two Harbors Investment Corp.'s (TWO) special meeting to vote on the proposed merger with CrossCountry Mortgage (CCM). UWMC accused the TWO board of ignoring shareholder will and employing delay tactics.

UWMC's Superior Offer

UWMC emphasized its offer of $12.50 per share in cash or 2.3328 UWMC shares, which it claims is superior to CCM's best and final offer of $12.00 per share. The company urged the TWO board to engage in good faith negotiations.

Call to Shareholders

UWMC recommends that TWO stockholders vote AGAINST the CCM transaction on the BLUE proxy card and demand that the board engage with UWMC to maximize shareholder value.

Impacted Symbols

Symbols affected by this headline and their sentiment signals

TWONegative

Two Harbors Investment Corp.

Uncertainty around the merger and shareholder dissatisfaction are negatively impacting TWO's value and future prospects.

Impact score90%

UWMCPositive

UWM Holdings Corporation

UWMC is actively pursuing a merger with TWO, which could create value if successful, and its aggressive stance may boost investor confidence.

Impact score85%

The news, analyses, and comments on this platform do not constitute investment advice. When making investment decisions, you should conduct your own research and consult with a qualified financial advisor if necessary. FiNews cannot be held responsible for any losses that may arise from the use of this information.

More Headlines