Brind.

Competing offers for Two Harbors Investment Corp. were evaluated by the board, involving United Wholesale Mortgage and CrossCountry Mortgage.

Steady: 1 in the last 7 days Updated friday

The latest in this situation

  1. UWM Holdings set a target to originate 8% of residential mortgage production.

How it started

6 reports, 3 independent, last reported May 28. The briefing below covers this first event.

AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Well supportedReported by 3 independent outlets

Competing offers for Two Harbors Investment Corp. were evaluated by the board, involving United Wholesale Mortgage and CrossCountry Mortgage.

Who's involved

What this event is mainly about
United Wholesale MortgageCrossCountry Mortgage

How it developed

Newest first. Tap a step to see who reported it.
  1. UWM, Oaktree, Two Harbors, and CCM engaged in a bidding war for Two Harbors that resulted in a deal failure and dispute.Sub-event
  2. UWM Holdings and United Wholesale Mortgage provide updates regarding Two Harbors Investment Corp. ahead of a stockholder meeting.Sub-event
  3. UWM Holdings, Two Harbors Investment Corp., and Houlihan Lokey are negotiating merger agreements and offers.Sub-event
  4. UWMC offered a superior acquisition proposal to Two Harbors, backed by a committed bridge facility from Mizuho.Sub-event
  5. UWM Holdings offered cash or stock to Two Harbors stockholders, a proposal considered against a CrossCountry agreement.Sub-event
  6. CrossCountry Mortgage's acquisition of Two Harbors Investment Corp. is closing.Sub-event
  7. UWM and CrossCountry Mortgage are involved in competing offers for Two Harbors Investment Corp.1 source
  8. UWM Holdings is pursuing the acquisition of Two Harbors Investment Corp.1 source
Show 3 earlier steps
  1. UWMC proposed to acquire Two Harbors and criticized the board's governance, while TWO proposed a merger with CCM.1 source
  2. UWMC proposed acquisition of Two Harbors Investment Corp.1 source
  3. UWMC's offer was superior to Two Harbors' transaction with CrossCountry.1 source

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Coverage

Newest first; wire copies grouped