UWM Holdings Reaffirms Commitment to Acquire Two Harbors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 22 2026
0mins
UWM Holdings Corporation (UWMC) reaffirmed its commitment to acquire Two Harbors Investment Corp. (TWO) and issued a statement regarding the upcoming special meeting on June 23 to vote on TWO's proposed merger with CrossCountry Mortgage, LLC, following the third adjournment. UWMC said: "TWO stockholders have sent a clear message over and over again: they do not support the inferior CCM transaction or the TWO Board's repeated adjournments - and we urge them to continue to reject CCM's inferior proposal. It's high time that the TWO Board respect the will of their stockholders. In stark contrast, UWMC's proposal offers both higher value and stockholder choice through stock consideration or an election to receive $12.50 per share in cash with full financing. That optionality is a clear benefit to stockholders, not a flaw. UWMC remains committed to its superior proposal, to reaching a transaction that is best for UWMC and for TWO stockholders, to delivering a superior offer and finalizing an agreement quickly if the TWO Board will finally do the right thing and engage in good faith. Stockholders should not be forced into the inferior CCM deal because TWO's management thinks it is better for them personally. It is ironic that the TWO Board bemoans the decline of its stock price, when they have a path to maximizing value for all TWO stockholders: true engagement with UWMC. TWO stockholders should continue to vote AGAINST the CCM merger and demand that the TWO Board engage with UWMC in an open, unrestricted and good-faith manner."
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Analyst Views on UWMC
Wall Street analysts forecast UWMC stock price to rise
7 Analyst Rating
2 Buy
5 Hold
0 Sell
Moderate Buy
Current: 2.200
Low
5.00
Averages
6.54
High
10.00
Current: 2.200
Low
5.00
Averages
6.54
High
10.00
About UWMC
UWM Holdings Corporation, through its subsidiaries, is engaged in the origination, sale and servicing of residential mortgage loans throughout the United States. The Company originates primarily conforming and government loans across all 50 states and the District of Columbia. It operates in a single segment and is engaged in the origination, sale and servicing of residential mortgage loans, exclusively in the wholesale channel. It is focused on originating conventional, agency-eligible loans that can be sold to Fannie Mae, Freddie Mac or transferred to Ginnie Mae pools for sale in the secondary market. Its conventional agency-conforming loans meet the general underwriting guidelines established by Fannie Mae and Freddie Mac. Easiest Application System Ever is its primary LOS that allows clients to interact with the Company and to select products, lock rates and run the Automated Underwriting System. Blink+ is its client facing point of sale system white-labeled for its clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Two Harbors Shareholders Approve $12 Per Share Sale to CrossCountry Mortgage
- Shareholder Vote Outcome: Two Harbors shareholders voted on Thursday to approve the sale to CrossCountry Mortgage for $12 per share in cash, indicating strong support for the transaction that is expected to provide stable cash flow for the company.
- Acquisition Competition Dynamics: This vote followed Two Harbors' adjournment of its special meeting last week to garner more shareholder support, reflecting the intense competition for the acquisition, especially after the termination of UWM Holdings' $1.3 billion all-stock deal.
- Transaction Background: CrossCountry's cash proposal was deemed “superior” by Two Harbors, highlighting the company's commitment to shareholder interests during the acquisition process, which may also influence future market confidence and stock performance.
- Market Reaction: Following the vote, Two Harbors' stock edged up by 0.6%, demonstrating a positive market response to the acquisition deal, which could attract more investor interest in the company's future prospects.
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- Market Sensitivity: Despite Nomura's historically volatile earnings, recent performance improvements have widened the gap to its price objective, demonstrating the company's resilience in uncertain market environments, potentially attracting more investor attention.
- Tesla Fundamentals Analysis: Barclays reiterated Tesla as equal weight, noting that its stock price is almost entirely narrative-driven, with fundamentals like Q2 deliveries and margins increasingly overlooked, which could lead to misjudgments about future performance by investors.
- Emerging Market Opportunities: Benchmark initiated coverage of Pinnacle Financial Partners with a buy rating, believing that management's execution over the next few quarters will improve its relative valuation, showcasing the company's competitive advantages and growth potential in regional markets.
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UWMC Reaffirms Commitment to Acquire TWO
- Acquisition Commitment Reaffirmed: UWM Holdings Corporation (UWMC) reaffirms its commitment to acquire Two Harbors Investment Corp. (TWO), emphasizing its offer of $12.50 per share in cash, which significantly surpasses the $12.00 per share deal with CrossCountry Mortgage (CCM), demonstrating UWMC's focus on maximizing shareholder value.
- Shareholder Voting Call: UWMC urges TWO shareholders to vote against the CCM transaction at the special meeting on June 23, asserting that rejecting the inferior deal is the only way to ensure maximum shareholder rights, highlighting the importance of shareholder influence in corporate governance.
- Independent Advisor Support: Independent proxy advisors such as ISS and Glass Lewis have unanimously recommended shareholders vote against the CCM transaction, citing concerns over the TWO Board's decision-making process, further validating UWMC's acquisition proposal and reflecting market confidence in UWMC's offer.
- Advocacy for Open Negotiations: UWMC expresses readiness for genuine negotiations, despite viewing TWO's brief engagement as a smokescreen; UWMC hopes to achieve the best transaction through open dialogue, underscoring the significance of transparency and shareholder involvement.
See More
Analysis of UWMC Dividend Predictions and Stock Performance
- Dividend Yield Expectation: UWMC's current estimated annualized dividend yield stands at 17.43%, and while dividends are not always predictable, historical data aids in assessing their sustainability, impacting investor return expectations.
- Stock Price Fluctuation: The 52-week low for UWMC is $2.275 per share, with a high of $7.14, while the latest trade price is $2.33, indicating the stock is hovering near its low, which may affect investor confidence.
- ETF Holdings Overview: UWMC comprises 4.55% of the AGF U.S. Market Neutral Anti-Beta Fund (BTAL), which is trading relatively unchanged on the day, suggesting that the market's overall view on UWMC remains stable.
- Market Performance: In Tuesday trading, UWM Holdings Corp shares are down approximately 2.3%, reflecting a negative short-term sentiment towards the stock, which could influence future investment decisions.
See More
UWMC Strongly Opposes TWO's Merger Proposal
- Board Opposition: UWMC criticizes the TWO Board for imposing an unreasonable five-day limit on discussions, which hinders the opportunity to reach a superior deal, reflecting a disregard for shareholder interests that could lead to further loss of shareholder value.
- Lack of Transparency: TWO's refusal to provide updated financial information and restrictions on UWMC's negotiators indicate a reluctance to engage in open, good-faith discussions, potentially undermining shareholder confidence in the merger proposal.
- Shareholder Voting Call: UWMC urges TWO shareholders to vote against the CCM transaction in the upcoming vote, emphasizing that only through pressure on the Board can shareholders prompt actions that benefit their long-term interests.
- Commitment to Ongoing Dialogue: Despite challenges, UWMC remains committed to engaging in open discussions with TWO and is prepared to propose more attractive deal terms, demonstrating its determination to achieve a mutually beneficial transaction.
See More
Two Harbors Reaffirms Support for CCM Acquisition Proposal
- Shareholder Meeting Scheduled: Two Harbors (TWO) has scheduled a special meeting for June 23 to vote on CrossCountry Mortgage's (CCM) all-cash offer of $12.00 per share, demonstrating the company's strong support for this transaction aimed at maximizing shareholder value.
- No New Proposal from UWM: UWM Holdings (UWMC) failed to submit a new acquisition proposal during the waiver period, prompting Two Harbors to reaffirm its support for the CCM offer, reflecting dissatisfaction with UWM's previous proposals, particularly regarding the potential adverse effects on shareholders' choice between cash or stock.
- Unproductive CEO Meeting: Two Harbors' CEO met with UWM's CEO on June 11 to discuss various suggestions, including making cash the default consideration, but UWM did not provide a written new proposal, indicating hesitation in its due diligence process that could affect future transaction progress.
- Market Reaction: In premarket trading on Monday, Two Harbors' stock remained at $12.34 while UWM's stock rose by 2.5%, reflecting market attention on the evolving dynamics between the two companies, especially given UWM's previous proposal valued at $12.50 per share.
See More
Two Harbors Shareholders Approve $12 Per Share Sale to CrossCountry Mortgage
- Shareholder Vote Outcome: Two Harbors shareholders voted on Thursday to approve the sale to CrossCountry Mortgage for $12 per share in cash, indicating strong support for the transaction that is expected to provide stable cash flow for the company.
- Acquisition Competition Dynamics: This vote followed Two Harbors' adjournment of its special meeting last week to garner more shareholder support, reflecting the intense competition for the acquisition, especially after the termination of UWM Holdings' $1.3 billion all-stock deal.
- Transaction Background: CrossCountry's cash proposal was deemed “superior” by Two Harbors, highlighting the company's commitment to shareholder interests during the acquisition process, which may also influence future market confidence and stock performance.
- Market Reaction: Following the vote, Two Harbors' stock edged up by 0.6%, demonstrating a positive market response to the acquisition deal, which could attract more investor interest in the company's future prospects.
See More
Bank of America Upgrades Nomura to Buy Amid Earnings Improvements
- Rating Upgrade: Bank of America upgraded Nomura from neutral to buy, primarily based on improvements in earnings and return on equity, indicating the firm's performance is strengthening under market conditions, which is expected to drive stock price increases.
- Market Sensitivity: Despite Nomura's historically volatile earnings, recent performance improvements have widened the gap to its price objective, demonstrating the company's resilience in uncertain market environments, potentially attracting more investor attention.
- Tesla Fundamentals Analysis: Barclays reiterated Tesla as equal weight, noting that its stock price is almost entirely narrative-driven, with fundamentals like Q2 deliveries and margins increasingly overlooked, which could lead to misjudgments about future performance by investors.
- Emerging Market Opportunities: Benchmark initiated coverage of Pinnacle Financial Partners with a buy rating, believing that management's execution over the next few quarters will improve its relative valuation, showcasing the company's competitive advantages and growth potential in regional markets.
See More
UWMC Reaffirms Commitment to Acquire TWO
- Acquisition Commitment Reaffirmed: UWM Holdings Corporation (UWMC) reaffirms its commitment to acquire Two Harbors Investment Corp. (TWO), emphasizing its offer of $12.50 per share in cash, which significantly surpasses the $12.00 per share deal with CrossCountry Mortgage (CCM), demonstrating UWMC's focus on maximizing shareholder value.
- Shareholder Voting Call: UWMC urges TWO shareholders to vote against the CCM transaction at the special meeting on June 23, asserting that rejecting the inferior deal is the only way to ensure maximum shareholder rights, highlighting the importance of shareholder influence in corporate governance.
- Independent Advisor Support: Independent proxy advisors such as ISS and Glass Lewis have unanimously recommended shareholders vote against the CCM transaction, citing concerns over the TWO Board's decision-making process, further validating UWMC's acquisition proposal and reflecting market confidence in UWMC's offer.
- Advocacy for Open Negotiations: UWMC expresses readiness for genuine negotiations, despite viewing TWO's brief engagement as a smokescreen; UWMC hopes to achieve the best transaction through open dialogue, underscoring the significance of transparency and shareholder involvement.
See More
Analysis of UWMC Dividend Predictions and Stock Performance
- Dividend Yield Expectation: UWMC's current estimated annualized dividend yield stands at 17.43%, and while dividends are not always predictable, historical data aids in assessing their sustainability, impacting investor return expectations.
- Stock Price Fluctuation: The 52-week low for UWMC is $2.275 per share, with a high of $7.14, while the latest trade price is $2.33, indicating the stock is hovering near its low, which may affect investor confidence.
- ETF Holdings Overview: UWMC comprises 4.55% of the AGF U.S. Market Neutral Anti-Beta Fund (BTAL), which is trading relatively unchanged on the day, suggesting that the market's overall view on UWMC remains stable.
- Market Performance: In Tuesday trading, UWM Holdings Corp shares are down approximately 2.3%, reflecting a negative short-term sentiment towards the stock, which could influence future investment decisions.
See More
UWMC Strongly Opposes TWO's Merger Proposal
- Board Opposition: UWMC criticizes the TWO Board for imposing an unreasonable five-day limit on discussions, which hinders the opportunity to reach a superior deal, reflecting a disregard for shareholder interests that could lead to further loss of shareholder value.
- Lack of Transparency: TWO's refusal to provide updated financial information and restrictions on UWMC's negotiators indicate a reluctance to engage in open, good-faith discussions, potentially undermining shareholder confidence in the merger proposal.
- Shareholder Voting Call: UWMC urges TWO shareholders to vote against the CCM transaction in the upcoming vote, emphasizing that only through pressure on the Board can shareholders prompt actions that benefit their long-term interests.
- Commitment to Ongoing Dialogue: Despite challenges, UWMC remains committed to engaging in open discussions with TWO and is prepared to propose more attractive deal terms, demonstrating its determination to achieve a mutually beneficial transaction.
See More
Two Harbors Reaffirms Support for CCM Acquisition Proposal
- Shareholder Meeting Scheduled: Two Harbors (TWO) has scheduled a special meeting for June 23 to vote on CrossCountry Mortgage's (CCM) all-cash offer of $12.00 per share, demonstrating the company's strong support for this transaction aimed at maximizing shareholder value.
- No New Proposal from UWM: UWM Holdings (UWMC) failed to submit a new acquisition proposal during the waiver period, prompting Two Harbors to reaffirm its support for the CCM offer, reflecting dissatisfaction with UWM's previous proposals, particularly regarding the potential adverse effects on shareholders' choice between cash or stock.
- Unproductive CEO Meeting: Two Harbors' CEO met with UWM's CEO on June 11 to discuss various suggestions, including making cash the default consideration, but UWM did not provide a written new proposal, indicating hesitation in its due diligence process that could affect future transaction progress.
- Market Reaction: In premarket trading on Monday, Two Harbors' stock remained at $12.34 while UWM's stock rose by 2.5%, reflecting market attention on the evolving dynamics between the two companies, especially given UWM's previous proposal valued at $12.50 per share.
See More
