CrossCountry To Acquire Two Harbors For $10.80/shr; UWM Deal Terminated

Two Harbors Investment Corp (TWO) entered into a definitive merger agreement with CrossCountry Intermediate Holdco, LLC, an affiliate of CrossCountry Mortgage, LLC. The announcement did not disclose financial terms or timing. The transaction ties a mortgage REIT to a mortgage origination platform and should be material to Two Harbors shareholders once deal consideration and regulatory approvals are disclosed.

Analysis

Two Harbors Investment Corp (TWO) entered into a definitive merger agreement with CrossCountry Intermediate Holdco, LLC, an affiliate of CrossCountry Mortgage, LLC. The announcement did not disclose financial terms or timing. The transaction ties a mortgage REIT to a mortgage origination platform and should be material to Two Harbors shareholders once deal consideration and regulatory approvals are disclosed.