UWM Holdings Corporation to Acquire Two Harbors Investment Corp. (All-Stock Merger)

December 17, 2025

UWM Holdings Corporation (UWM/“UWMC”) and Two Harbors Investment Corp. (TWO) entered into a definitive merger agreement under which UWM will acquire TWO in an all-stock transaction valued at $1.3 billion in equity value. The deal is intended to expand UWM’s mortgage servicing portfolio (including a high-quality MSR portfolio) and create annual cost and revenue synergies.

Buyers
UWM Holdings Corporation (UWMC)
Targets
Two Harbors Investment Corp. (TWO)
Location
Minnesota, United States
Transaction Type
Buyout

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