Two Harbors Investment, CrossCountry Mortgage Amend Merger Agreement To Raise Buyout Price

MT Newswires Live

05/08

Two Harbors Investment (TWO) said Friday it signed an amended merger agreement with CrossCountry Mortgage to increase the all-cash buyout offer to $12 per share from $11.30.

The revised transaction is expected to close in Q3, depending on customary closing conditions such as shareholder and regulatory approvals, the company said.

Once the purchase is complete, the real estate investment trust will leave the stock market and operate as a wholly owned subsidiary of the buyer, it said.

Shares of the company were up 1.2% in Friday's premarket trading.

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