A revised proposal from UWM Holdings Corporation to acquire Two Harbors Investment Corp. was formally rejected by the seller’s board of directors, citing “financing, closing, business and credibility risks.” The board continues to unanimously support the competing bid from CrossCountry Mortgage, LLC. 

In late April, UWM intensified its campaign to acquire TWO by issuing an open letter to the company’s shareholders. The letter detailed an offer of $12 per share — payable in cash or UWM stock, at the shareholder’s discretion — and positioned the bid as superior to the pending $11.30 all-cash sale to CCM. 

However, Two Harbors noted details ⇒

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