Key facts
- Two Harbors Investment Corp. postponed its shareholder meeting.
- The shareholder meeting is rescheduled for July 2.
- The vote concerns a proposed sale of Two Harbors to CrossCountry Mortgage.
- United Wholesale Mortgage (UWM) is engaged in a bidding war for Two Harbors.
- There is significant shareholder opposition to the CrossCountry deal.
Two Harbors Investment Corp. has postponed its shareholder meeting, originally scheduled for June 25, to July 2. The company is seeking additional time to garner support for its proposed sale to CrossCountry Mortgage. This decision comes amidst an ongoing bidding war for Two Harbors initiated by United Wholesale Mortgage (UWM). Shareholder opposition to the CrossCountry deal has been noted as significant, influencing the company's strategy to delay the vote. The postponement aims to provide Two Harbors with more time to persuade its shareholders to approve the transaction with CrossCountry Mortgage.