UWM says Two Harbors mischaracterizes talks, urges vote against CrossCountry deal

UWM Holdings Corp. Class A

UWM Holdings Corp. Class A

UWMC

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  • UWM Holdings issued a rebuttal to Two Harbors’ stockholder letter, disputing its account of recent merger talks.
  • Alleged Two Harbors imposed tight limits on engagement, restricted UWMC negotiators, demanded a revised written proposal before sharing updated financials.
  • UWMC said it proposed alternative deal structures, including tweaks to default elections or “higher of cash or stock” consideration.
  • Claimed Two Harbors categorically rejected any stock component in merger consideration; UWMC framed its offer as cash at USD 12.5 per share or stock.
  • UWMC urged Two Harbors holders to vote against the CrossCountry Mortgage merger at the June 23 special meeting.


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