Two Harbors Acquired by United Wholesale Mortgage | Financial Services M&A Deal

United Wholesale Mortgage has proposed the acquisition of Two Harbors, a mortgage business in Washington, for $12.50 per share in cash or 2.3328 shares of UWM Holdings common stock. Two Harbors is a mortgage-focused financial services company, and United Wholesale Mortgage acquisitions are aimed at expanding its mortgage acquisition footprint and servicing-related capabilities in WA acquisitions. The latest Two Harbors acquisition offer was rejected by the Two Harbors board as “illusory” and “predatory,” while UWM criticized the board’s corporate governance. The other acquisition is currently rumoured, with the buyer described as a strategic acquirer, and Two Harbors reaffirmed support for an all-cash $12 per share offer from CrossCountry Mortgage.