The $10.80 per share offer represents a clear near-term price target, with 23% upside from the unaffected price. Traders should monitor the May 19 shareholder vote, as approval is expected given the board's unanimous recommendation and lack of competing bids. The stock is likely to trade close to the offer price pending closing, which is expected in the second half of 2026.
Price Chart
Executive Summary
Two Harbors Investment Corp. (TWOD) is being acquired by CrossCountry Intermediate Holdco, LLC in an all-cash deal valued at $10.80 per share, representing a 23% premium to the unaffected stock price. The prior merger with UWM Holdings was terminated after CrossCountry submitted a superior proposal, and shareholders are now voting to approve this new transaction. The board unanimously recommends approval, citing financial and strategic benefits.
Key Financial Metrics
Key Facts
- CrossCountry is acquiring Two Harbors in an all-cash transaction at $10.80 per share
- The deal represents a 23% premium to Two Harbors' unaffected stock price of $8.78
- The prior merger agreement with UWM Holdings was terminated, and Two Harbors paid a $25.4 million termination fee
- Houlihan Lokey provided a fairness opinion that the $10.80 per share consideration is fair from a financial perspective
- The board unanimously recommends shareholders vote in favor of the merger
Financial Impact
Total equity value of approximately $1.13 billion based on 105 million shares outstanding at $10.80 per share
Risk Factors
- Failure to obtain shareholder approval
- Regulatory hurdles under the Hart-Scott-Rodino Act
- Potential litigation from shareholders
- Deal termination if closing doesn't occur by March 27, 2027
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFM14A Filing (Primary) | 0001140361-26-015481 |
| Document: ny20069666x2_defm14a.htm | 0001140361-26-015481 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 16w ago | DEFA14A | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 8, 2026 16w ago | DEFA14A | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 8, 2026 16w ago | 8-K | $25.34 $26.09 | ▲ +2.96% | ▼ −0.09% | $26.33 (+3.91%) |
Jun 3, 2026 17w ago | DEFA14A | $25.39 $26.06 | ▲ +2.64% | ▲ +0.14% | $26.33 (+3.70%) |
May 19, 2026 19w ago | DEFA14A | $25.24 $25.38 | ▲ +0.55% | ▼ −4.45% | $26.33 (+4.32%) |
May 19, 2026 19w ago | 8-K | $25.24 $25.38 | ▲ +0.55% | ▼ −4.45% | $26.33 (+4.32%) |
May 15, 2026 20w ago | DEFA14A | $25.30 $25.28 | ▲ +0.08% | ▲ +4.59% | $26.33 (−4.07%) |
May 15, 2026 20w ago | 8-K | $25.30 $25.28 | ▲ +0.08% | ▲ +4.59% | $26.33 (−4.07%) |
May 14, 2026 20w ago | 144 | $25.30 $25.28 | ▼ −0.08% | ▼ −4.59% | $26.33 (+4.07%) |
May 14, 2026 20w ago | DEFA14A | $25.26 $25.35 | ▲ +0.36% | ▼ −3.23% | $26.33 (+4.24%) |
US Market Status
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