Two Harbors Investment Corp. (TWO), a Maryland-based real estate investment trust, on Friday announced that it has entered into a definitive merger agreement with CrossCountry Intermediate Holdco, LLC, an affiliate of CrossCountry Mortgage, LLC.
Under the agreement, CrossCountry will acquire all outstanding shares of the company for $10.80 per share in cash.
The transaction is expected to close in the second half of 2026.
The company said it has terminated its previously announced merger agreement with UWM Holdings Corp.(UWMC), with CrossCountry agreeing to pay a termination fee of $25.4 million.
Under the terms, Two Harbors stockholders will receive $10.80 in cash for each common share, while holders of Series A, B and C preferred stock will receive $25 per share plus any accumulated and unpaid dividends.
Upon completion, Two Harbors will be delisted from the New York Stock Exchange and will become a wholly owned subsidiary of CrossCountry.
The company said it intends to continue paying regular quarterly dividends until the deal closes, but does not plan to pay a partial dividend for the closing quarter.
In the pre-market trading, Two Harbors is 2.46% lesser at $11.11 on the New York Stock Exchange.
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