UWM Holding Corp. may not win the bid to acquire Two Harbors Investment Corp., but an unsolicited proposal for the real estate investment trust just forced CrossCountry Intermediate Holdco to raise its offering.

Two Harbors announced Tuesday that it amended its merger agreement to increase the all-cash price CrossCountry will pay to $11.30 per share. The price is up from $10.80 per share under the original March 27 agreement. Two Harbors’ Series A, B and C preferred stock will still be redeemed after closing at $25 per share plus any accumulated and unpaid dividends, consistent with existing details ⇒

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