CrossCountry Mortgage (CCM) responded forcefully Tuesday to what it called “several misleading claims” made by United Wholesale Mortgage (UWM) in an increasingly contentious bidding war to acquire Two Harbors Investment Corp. (TWO).
TWO, which owns RoundPoint Mortgage Servicing, accepted an $11.30 per share acquisition offer from CCM on April 28, despite a higher $12 per share offer on the table from UWM.
That rebuff prompted UWM to appeal directly to TWO shareholders in an open letter issued April 30, which accused Two Harbors’ board and management of not working in the best interests of their stockholders.
Two Harbors subsequently issued a press release explaining its preference for the CCM offer, noting that the UWM proposal “carries fin...