EL7.AI
Mergers & AcquisitionsMedium•15 June 2026•
1 min read

Two Harbors Reaffirms $12 Cash Sale as UWMC Fails to Improve Bid

Key Facts

1Two Harbors Board reaffirmed its recommendation for the CrossCountry Mortgage transaction at $12.00 per share in cash.
2UWMC failed to submit a new proposal during the waiver period despite direct engagement efforts from Two Harbors.
3A special meeting for stockholders to vote on the CCM transaction is scheduled for June 23, 2026.

In a move that provides much-needed certainty for shareholders amid shifting sector dynamics, Two Harbors Investment Corp. has reaffirmed its recommendation for an all-cash acquisition by CrossCountry Mortgage at $12.00 per share. According to reports, rival bidder UWM Holdings (UWMC) failed to submit a revised proposal during the designated waiver period despite direct engagement efforts. A special meeting for stockholders to formally vote on the transaction has been scheduled for June 23, 2026.

The decision follows a period of scrutiny where previous proposals from UWMC were deemed inferior due to their stock-heavy structure and the declining value of UWMC shares. Per market data, the volatility in mortgage-related equities has made cash exits more attractive compared to stock-based deals. Industry analysts note that the $12.00 cash offer provides a clean exit strategy, avoiding the risks associated with the share price fluctuations seen in peers like UWMC over the recent quarter.

Investors should look toward the June 23 shareholder vote as the primary catalyst for the stock. In the interim, broader sector sentiment may be influenced by the MBA 30-Year Mortgage Rate data scheduled for release on June 10, 2026, according to the economic calendar.