United Holding Corp., the parent of United Wholesale Mortgage (UWM), is facing new competition in its bid to acquire Two Harbors Investment Corp., which may force the company to sweeten its offer for the real estate investment trust (REIT).

A competing bidder has offered $10.70 per share in cash, valuing the company at roughly $1.12 billion based on about 105 million shares outstanding. The bidder has also indicated a willingness to cover the $25.4 million termination fee if Two Harbors walks away from its existing merger agreement with UWM.

Under UWM’s proposal, Two Harbors shareholders would receive a fixed exchange details ⇒

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