Two Harbors Investment Stock Jumps 11% On $1.3 Bln All-Stock Merger With UWM

(RTTNews) - Two Harbors Investment Corp. (TWO) shares surged 11.25 percent, gaining $1.11 to trade at $11.02 on Wednesday, after UWM Holdings Corporation announced it will acquire Two Harbors in an all-stock transaction valued at approximately $1.3 billion. The stock was trading at $11.02, compared with a previous close of $9.91 on the New York Stock Exchange. Shares opened at $10.84 and moved within a day's range of $10.73 to $11.24. Trading volume totaled about 13.53 million shares, sharply above the average volume of roughly 1.59 million. Two Harbors is now trading toward the upper end of its 52-week range of $9.30 to $14.28.