Simpson Thacher is representing CrossCountry Mortgage, LLC in connection with its agreement to acquire Two Harbors Investment Corp. for $10.80 per share. In connection with entering into the merger agreement with CrossCountry, TWO has terminated its previously announced merger agreement with UWM Holdings Corporation after determining that CCM’s unsolicited proposal constituted a superior proposal.
TWO is an MSR-focused REIT and one of the largest servicers of conventional mortgages in the country through its wholly-owned subsidiary RoundPoint Mortgage Servicing LLC.
CrossCountry Mortgage is the nation’s number one distributed retail mortgage lender, and the combination will create a fully integrated mortgage company spanning the full mortgage customer lifecycle, from origination through servicing.
The Simpson Thacher team includes Ravi Purushotham, Oleg Stratiev, Jack Parsons and Price Figurelli-Reid (M&A); Larry Moss, Ryan Stott, Ben Faber and Margaret Wang (Executive Compensation and Employee Benefits); Andrew Purcell and Ruoxi Zhang (Tax); Peter Guryan, Rick Jamgochian and Kelly Karapetyan (Antitrust); Caroline Geiger and Christine Song (Intellectual Property); Carleigh Rodriguez and Logan Lineberry (Environmental); Krista McManus (Real Estate); and Mark Skerry and Ryan Stalnaker (Regulatory).