Two Harbors Investment Acquired by CrossCountry Mortgage | Financial Services M&A Deal

CrossCountry Mortgage has agreed to acquire Two Harbors Investment, a mortgage business in Minnesota, for $12 per share in the proposed merger acquisition. Two Harbors Investment owns RoundPoint Mortgage Servicing and a portfolio of mortgage servicing rights, making it a mortgage acquisition target in financial services M&A. CrossCountry Mortgage acquisitions are positioned as a strategic acquisition to expand mortgage servicing scale and related servicing rights exposure in MN acquisitions. The financial services deals MN process was delayed after Two Harbors adjourned a special stockholder meeting, pushing the vote to May 28 to solicit additional proxies. The strategic acquisition is competing with an unsolicited United Wholesale Mortgage parent bid offering $12.50 per share or stock, with the announced deal valued around $35 million.