Ishbia's UWM Loses Two Harbors Takeover Battle; CrossCountry Mortgage Deal Wins Shareholder Vote
- Two Harbors Investment Corp. shareholders on July 2 voted to approve CrossCountry Mortgage's $12-per-share cash offer, ending Mat Ishbia's months-long hostile bid via United Wholesale Mortgage.
- UWM had countered with a $12.50 cash proposal but was rebuffed; the saga featured public clashes and leaked emails between the two management teams, per Bloomberg.
- Defeat is a setback for UWM's push to scale its mortgage-servicing and MSR business through M&A.