Cleveland-based CrossCountry Mortgage (CCM) has entered the bidding battle for Two Harbors Investment Corp., facing competition not only from UWM Holdings Corp. — which already has a signed agreement — but also from another unsolicited bidder offering a higher all-cash price.

Market speculation that CCM was behind a $10.70-per-share cash offer surfaced late last week, shortly after Two Harbors disclosed it had received an alternative proposal. CCM’s bid values the company at roughly $1.12 billion and includes a commitment to cover the $25.4 million termination fee owed to UWM if the existing merger agreement is details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com