"UWM Holdings Corp. is pressing its campaign to acquire Two Harbors Investment Corp., issuing an open letter to the seller shareholders detailing a sweetened proposal that valued the REIT at $12 per share."
"The new cash option is 70 cents per share, or just over 6%, higher than the $11.30 per share cash consideration under Two Harbors' amended merger agreement with CCM announced on Tuesday."
"UWM also said it increased a committed unsecured bridge facility from Mizuho Bank to $1.3 billion, up from $1.2 billion in its proposal, to support the higher cash component."
UWM Holdings Corp. has raised its proposal for Two Harbors Investment Corp. to $12 per share, offering shareholders a choice between cash or UWM Class A shares. This new offer surpasses the previous agreement with CrossCountry Intermediate Holdco, which was valued at $11.30 per share. UWM has also secured a $1.3 billion bridge facility to support the cash option. The lender encourages Two Harbors shareholders to advocate for UWM's proposal as a superior offer before the upcoming vote on May 19.
Read at www.housingwire.com
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