UWM urges Two Harbors holders to vote against CrossCountry merger at June 23 meeting, backs USD 12.5-a-share alternative bid

UWM Holdings Corp. Class A

UWM Holdings Corp. Class A

UWMC

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  • UWM Holdings escalated its proxy fight at Two Harbors, urging stockholders to vote against the proposed CrossCountry merger at a June 23 virtual meeting.
  • UWM is pressing Two Harbors to consider its May 11 alternative bid, offering USD 12.5 cash per share or 2.3328 UWMC Class A shares.
  • The CrossCountry deal offers USD 12 per share in cash, according to the filing.
  • Two Harbors has adjourned or postponed the meeting three times, failing to secure approval for the CrossCountry merger or an adjournment proposal.
  • UWM framed the board’s insistence on an all-cash offer as blocking engagement, citing talks and emails between Mat Ishbia and Two Harbors CEO Bill Greenberg.


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