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Stock impact report

UWMC Responds to Two Harbors Acquisition Deal

UWM Holdings Corporation Class A (UWMC) 
Company Research Source: Business Wire
PONTIAC, Mich.--(BUSINESS WIRE)--UWMC today issued the following statement regarding its proposal to acquire TWO.“The actions by TWO’s management and board do not reflect the best interests of their shareholders. The same team that had to settle a $375 million lawsuit this past summer is at it again. TWO’s decision appears to be driven more by ego, than by sound judgment. The deal for us was a strategy to acquire their servicing book, not their operations, as ultimately there are no operational efficiencies to gain — UWMs operations are best in class. Unlike TWO’s business, which is effectively a melting ice cube, we are in growth mode and will continue to be the market leader for the wholesale channel in support of our broker clients and team members.”About UWM Holdings Corporation and United Wholesale MortgageHeadquartered in Pontiac, Michigan, UWM Holdings Corporation (UWMC) is the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the nation’s la Show less Read more
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