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Mergers & AcquisitionsMedium•4 May 2026•

1 min read

UWMC Challenges Two Harbors Board Rejection of $12.00 Per Share Buyout Bid

Key Facts

1The Two Harbors Board rejected an acquisition proposal from UWMC valued at $12.00 per share.

2Two Harbors reaffirmed support for an $11.30 per share transaction with CrossCountry Mortgage.

UWM Holdings Corporation (UWMC) has issued a formal response after the Board of Two Harbors Investment Corp. (TWO) rejected its $12.00 per share acquisition proposal. Despite the higher valuation, Two Harbors reaffirmed its support for a competing transaction with CrossCountry Mortgage valued at only $11.30 per share. UWMC publicly challenged this decision, stating that the TWO Board's interpretation of the figures does not accurately reflect the underlying math of their superior offer. The friction between the two entities highlights a significant valuation gap and potential misalignment between board preferences and shareholder interests. This development introduces fresh volatility for both stocks as the market weighs the possibility of a hostile takeover or revised bids. Analysts suggest that the dismissal of a higher cash offer could lead to further scrutiny or litigation from institutional investors.