Two Harbors Investment Corp. said in a letter on Monday that UWM Holdings Corp. failed to submit a revised offer to buy the company or request to extend a waiver period to negotiate, leading the seller to urge shareholders to approve its sale to CrossCountry Mortgage (CCM).

The waiver period, obtained after investor feedback and a recommendation from proxy advisory firm Institutional Shareholder Services, expired on Friday. CCM is offering $12 per share in cash, plus a stub dividend, a proposal to be submitted for vote on June 23. UWM had offered $12.50 per share in cash, or if a details ⇒

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