UWM Holdings Corp. tied its acquisition of Two Harbors Investment Corp. to its stock price, ultimately failing to complete the deal even after adding a cash portion. When CrossCountry Intermediate HoldCo emerged as the seller’s preferred option, UWM suggested potential litigation, according to a public filing by TWO.

UWM revised its original proposal — an exchange ratio of 2.3328 shares of UWMC Class A common stock for each TWO share — twice to save the deal amid a declining stock price. The deal would have marked UWM’s first acquisition.

Analysts had pointed to UWM’s falling stock price as details ⇒

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