Two Harbors Reaffirms Support for CrossCountry Transaction Ahead of Meeting
Two Harbors Investment (TWO) announced that UWM Holdings Corporation (UWMC) did not submit a proposal during the waiver period that TWO obtained to engage directly with UWMC on a potential transaction. The TWO Board of Directors unanimously reaffirms its recommendation that stockholders vote FOR the CrossCountry Mortgage transaction on the WHITE proxy card in advance of the Special Meeting on June 23, 2026. In a letter to shareholders: "Your Board of Directors unanimously recommends that you vote FOR the proposed transaction with CrossCountry Mortgage on the WHITE proxy card at the Special Meeting on June 23, 2026. We are writing to update you on developments since our June 8 letter and to explain why we continue to believe the CCM transaction is in the best interests of all TWO stockholders. Following the recommendation of ISS and encouragement by stockholders for the Board to engage more directly with UWMC, we sought a waiver from CCM of the customary non-solicitation restrictions under the CCM Merger Agreement. Obtaining this waiver was necessary because we had not determined that UWMC's prior proposals constituted, or would reasonably be expected to result in, a superior proposal - meaning TWO was otherwise prohibited from engaging directly with UWMC. CCM agreed to waive those restrictions for the period from Monday, June 8, through 11:59 p.m. on Friday, June 12, and we postponed the Special Meeting from June 11 to June 23 to provide time for this engagement. "
