UWMC challenges TWO board rejection of $12.50/share bid, urges vote against CCM merger

UWM Holdings Corp

UWMC's May 11 cash/stock offer of $12.50/share was rejected by TWO board, which supports $12.00/share CCM deal.
ISS and Glass Lewis recommend TWO shareholders vote AGAINST the CCM merger and golden parachute proposal.
Special meeting on May 19, 2026, where TWO shareholders vote on the CCM merger and related proposals.
UWMC says it can close within 60 days, citing prior regulatory approvals and $424M cash on hand.
Glass Lewis called TWO's golden parachutes 'excessive,' representing ~25.3% of the merger equity premium.

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