08:56 AM EDT, 03/23/2026 (MT Newswires) -- Two Harbors Investment ( TWO/PA ) said Monday that its board's ad hoc committee has determined that the unsolicited acquisition proposal from CrossCountry Mortgage constitutes a "company superior proposal" under the UWM (UWMC) merger agreement.

The company said CrossCountry Mortgage offered to buy all of its shares for $10.70 per share in cash, and pay the $25.4 million termination fee that Two Harbors would have to pay UWM.

In addition, Two Harbors said it also received a separate unsolicited proposal from a third party offering $10.75 per share in cash and payment of $25.4 million termination fee, which the committee believes could also reasonably lead to a "company superior proposal" under the UWM merger deal.

Two Harbors Investment ( TWO/PA ) and UWM are discussing potential revisions to their agreement, which remains in effect, and there is no guarantee that any amended agreement, termination, or new transaction will occur, Two Harbors said.

Shares of Two Harbors were up more than 4% and UWM stock added 0.8% in premarket activity Monday.