UWM Returns With Higher Offer for Two Harbors – Merger Arbitrage Mondays

Two Harbors Investment Corp. (TWO): $12.54

Market Cap: $1.32 B

Deal Value: $8.84 B

When we last covered Two Harbors in our Merger Arbitrage Mondays post, it had inked a definitive merger agreement with CrossCountry Mortgage after winning a bidding war against UWM Holdings (UWMC). At the time, we believed that the bidding war would mark the end of the battle, as is usually the case in mergers involving multiple interested parties.

But that hasn’t played out here, as UWM, the parent company of United Wholesale Mortgage, the country’s largest mortgage lender, has stepped back in with another attempt at a deal with Two Harbors.

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