Key facts
- Two Harbors Investment Corp. is being acquired by CrossCountry Intermediate Holdco LLC.
- State and agency approvals for the sale have been received.
- Approval from one state is still pending.
- The deal's closing is delayed due to the pending state approval.
- The formula for the stub dividend to be paid to shareholders has been updated.
- The updated formula accounts for the delayed closing.
Two Harbors Investment Corp. is approaching the final stages of its acquisition by CrossCountry Intermediate Holdco LLC. The company has successfully obtained approvals from state and various agencies necessary for the transaction to proceed. However, the closing of the deal is experiencing a delay as one state's approval is still pending. This delay in the closing timeline has necessitated an update to the calculation method for the stub dividend that will be distributed to Two Harbors' shareholders. The revised formula aims to accurately reflect the extended period before the acquisition is finalized.