"The Two Harbors board determined that the CrossCountry transaction, as amended, remains superior since it offers greater certainty of value through fixed, all-cash consideration that is not subject to a financing condition."
"Ron Leonhardt, founder and CEO of CrossCountry Mortgage, said in a statement that our increased bid reflects our continued excitement for this transaction and our strong conviction in the strategic and financial merits of combining CCM and Two Harbors."
"Bill Greenberg, TWO's president and CEO, said in a statement that the deal pairs the country's leading retail originator with RoundPoint's best-in-class servicing platform, creating a fully integrated mortgage company."
The Two Harbors board has unanimously approved an amended merger agreement with CrossCountry, citing the transaction's all-cash consideration as superior due to its certainty of value. A special meeting for shareholders is scheduled for May 19 to vote on the deal. CrossCountry's CEO expressed confidence in the merger's strategic merits and noted progress in regulatory approvals. The transaction is expected to close in the third quarter of 2026, leading to Two Harbors becoming a wholly owned subsidiary of CrossCountry and delisting from the NYSE.
Read at www.housingwire.com
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