CrossCountry Mortgage to Acquire Two Harbors Investment in All-Cash Deal

Two Harbors Investment Corp (TWO) has entered into a definitive agreement to be acquired by CrossCountry Mortgage (CCM) in an all-cash transaction. Under the terms of the deal, common shareholders will receive $10.80 per share, providing immediate liquidity to investors. The acquisition also includes the full redemption of all preferred equity series at $25 per share plus accrued dividends, with Series C offering a notable 10% yield to maturity. This strategic move follows a previously failed merger attempt with UWMC, positioning the CCM offer as a superior exit strategy. The transaction is expected to close by September 2026, subject to regulatory approvals and closing conditions. This buyout underscores CCM's commitment to expanding its footprint in the mortgage investment sector through a structured cash acquisition.