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Two Harbors scraps UWM deal, accepts cash bid from CCM

Two Harbors Investment Corp. (TWO) has terminated its merger agreement with UWM Holdings Corp. and instead agreed to be acquired by rival CrossCountry Intermediate HoldCo in an all-cash deal valued at $10.80 per share. It remains unclear whether UWM will challenge the merger in court. The revised offer from CrossCountry values the company at approximately…