M&A
confidence high
sentiment neutral
materiality 0.90
UWM Holdings to acquire Two Harbors Investment Corp. in stock-for-stock merger
UWM Holdings Corp
- Two Harbors shareholders get 2.3328 shares of UWMC Class A common per share; preferred converted into equivalent UWMC preferred.
- Merger subject to Two Harbors stockholder approval, HSR clearance, and tax opinion; termination fee of $25.35M payable by Two Harbors.
- UWMC Board to expand by one seat; Two Harbors will designate a new board member.
- Deal expected to close within 12 months, extendable to 15 months for regulatory clearance.