CrossCountry Mortgage (CCM) has upped its all-cash acquisition offer for Two Harbors Investment Corp. (TWO) to $12 a share, matching a per-share bid amount from the parent company of United Wholesale Mortgage (UWM) in a bidding war that has now stretched into its third month.
Two Harbors announced the amended merger terms in a press release Friday, emphasizing that its board “continues to unanimously recommend” that TWO shareholders vote to approve the CCM deal.
“The CCM transaction delivers a fixed price all-cash consideration to every TWO stockholder — automatically and without election — with committed financing, no financing contingency, and a clear path to close in the shortest timeframe,” Bill Greenberg, TWO’s president and CEO, state...