Two Harbors Investment

Two Harbors has received final regulatory approval for its merger with CrossCountry Mortgage. The closing is scheduled for August 25, 2026, before the market opens; CrossCountry Merger Corp. will be merged into Two Harbors, and Two Harbors will continue as a wholly owned subsidiary of CrossCountry Mortgage. Shareholders of Two Harbors will receive $12.00 in cash per common share plus a stub dividend of $0.20326 per share, payable together with the merger consideration. » Más en de.investing.com

Two Harbors’ common shareholders voted at a reconvened special meeting to approve the proposed merger with CrossCountry Mortgage; the result is preliminary and will be confirmed by an independent inspector. Under the merger agreement each outstanding common share will be converted into a cash claim of $12.00 per share; the stock trades near that offer price. Series A, B and C preferred shares are to be repurchased at $25.00 plus accrued dividends at closing, and common shareholders will receive a pro rata interim dividend for the closing quarter. Closing is expected in August 2026, subject to remaining state regulatory approvals. » Más en de.investing.com

A shareholder filed suit in the U.S. District Court for Maryland against Two Harbors and its directors, alleging the company disseminated an incomplete and misleading proxy statement for the proposed merger with CrossCountry (CCM). Plaintiff George Assad seeks a preliminary injunction to block the May 19 shareholder meeting, the solicitation of proxies and the closing of the merger; a hearing is scheduled for May 18. Two Harbors calls the allegations unfounded, says it has no additional disclosure obligation and points to higher cash consideration proposals and competing bids from UWM. » Más en de.investing.com