The fixed cash price of $10.80 per share provides immediate liquidity and certainty of value, making this transaction particularly attractive in the current market environment. The deal represents a premium valuation and eliminates the volatility risk associated with the previous stock-for-stock merger agreement with UWM. Shareholders should consider voting in favor of the merger.
Price Chart
Executive Summary
Two Harbors Investment Corp. (TWO) is being acquired by CrossCountry Mortgage (CCM) in an all-cash deal valued at $1.16 billion. Shareholders will receive $10.80 per share, a 13.3% premium over the prior closing price. This transaction follows a competitive bidding process and the termination of a previous merger with UWM Holdings Corporation. The deal provides certainty of value through a fixed cash price and committed financing, which the board deemed superior to the previous stock-for-stock proposal.
Key Financial Metrics
Key Facts
- TWO shareholders will receive $10.80 per share in cash
- The deal represents a 13.3% premium over the March 18, 2026 closing price of $9.53
- Houlihan Lokey provided a fairness opinion supporting the transaction
- The transaction follows a competitive bidding process with multiple proposals
- TWO terminated a previous merger agreement with UWM Holdings Corporation
- CCM has committed financing from a leading national bank
Financial Impact
$1.16 billion transaction value
Risk Factors
- Regulatory approvals required for the merger
- Potential litigation from shareholders
- Failure to satisfy closing conditions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| PREM14A Filing (Primary) | 0001140361-26-014238 |
| Document: ny20069666x1_ex107.htm | 0001140361-26-014238 |
| Document: 0001140361-26-014238-index-headers.html | 0001140361-26-014238 |
| Document: 0001140361-26-014238-index.html | 0001140361-26-014238 |
| Document: 0001140361-26-014238.txt | 0001140361-26-014238 |
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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