UWM Holdings Corp Urges TWO Stockholders to Vote Against CCM Merger Proposal
Pontiac, MI – June 22, 2026 – UWM Holdings Corporation (NYSE: UWMC) has issued a clarion call to stockholders of Two Harbors Investment Corp. (NYSE: TWO) to reject the proposed merger with CrossCountry Mortgage, LLC (CCM) during the upcoming special meeting on June 23. This appeal follows repeated adjournments of the vote, which has raised concerns about the transparency and accountability of the TWO Board.
1. UWM's Commitment to Shareholder Value
In a statement released today, UWM reaffirmed its strong commitment to acquiring TWO and emphasized that the stockholders have consistently expressed their discontent with the proposed CCM transaction. UWM believes that the TWO Board has failed to respect the will of its shareholders, stating, “It’s high time that the TWO Board respect the will of their stockholders.”
UWM's proposal stands out in that it offers shareholders a choice between two attractive options: an election to receive $12.50 per share in cash or the option to receive 2.3328 shares of UWMC stock for each share of TWO. This flexibility is touted as a significant advantage over CCM’s “best and final” offer of $12.00 per share.
2. Key Advantages of UWM's Proposal
UWM outlined several critical points that differentiate its offer from that of CCM:
- Higher Value: UWM's cash offer of $12.50 per share surpasses CCM’s offer by $0.50, providing immediate financial benefits to stockholders.
- Choice for Stockholders: Unlike the CCM proposal, which has been criticized for excluding stock options, UWM's offer allows stockholders to choose their preferred form of compensation, thereby preserving potential upside in the combined company.
- Willingness to Engage: UWM has expressed readiness for genuine negotiations, criticizing the previous attempts by the TWO Board as mere "smokescreens" that lacked true engagement. The company is open to discussing alternative terms, aiming for a collaborative approach that could benefit all parties involved.
3. Support from Independent Advisors
Adding weight to UWM’s position, independent proxy advisors have issued strong recommendations against the CCM transaction. Firms such as Institutional Shareholder Services (ISS), Glass Lewis, and Egan-Jones have all advised stockholders to reject the merger, expressing concerns about the TWO Board's process and the availability of UWM's superior offer.
4. The Power of Stockholder Votes
UWM emphasizes the critical nature of the upcoming vote, stating that voting against the CCM merger is essential for stockholders to maintain a path toward maximizing their investments. The statement stresses that without adequate engagement with UWM, stockholders cannot be assured that the TWO Board is acting in their best interests.
“Voting AGAINST the CCM transaction is the only way to maintain a path to maximum value,” UWM stated, urging stockholders to hold the TWO Board accountable.
Call to Action
As the special meeting approaches, UWM has encouraged all TWO stockholders to utilize the BLUE Proxy Card to vote against the CCM merger, along with two other proposals related to compensation and adjournment. The company reassures stockholders that it is not too late to change their votes and emphasizes the importance of each individual vote, regardless of the number of shares held.
For further assistance with voting, stockholders are advised to reach out to the proxy solicitor, Okapi Partners.
5. About UWM Holdings Corporation
UWM Holdings Corporation is the parent company of United Wholesale Mortgage (UWM), the largest home mortgage lender in the United States, primarily originating loans through the wholesale channel. With a focus on technology and client experience, UWM has maintained its position as a leader in the mortgage lending industry for over a decade.
As the clock ticks down to the critical vote, the financial community watches closely to see how TWO stockholders will respond to UWM's compelling case for rejecting the CCM merger.
