Two Harbors Investment Corp. (NYSE: TWO) is experiencing a decline in its shares on Friday following the announcement of a definitive merger agreement with CrossCountry Mortgage. As per the terms of the agreement, shareholders of TWO will be entitled to receive $10.80 per share in cash for the merger. Additionally, the holders of TWO's preferred stock will see their shares redeemed at $25.00 per share, along with any accrued dividends. The anticipated timeline for the completion of the transaction is in the latter half of 2026, subject to standard closing conditions and approval from stockholders. Upon the finalization of the merger, TWO's common stock will be removed from the New York Stock Exchange and will function as a fully owned subsidiary of CrossCountry. This strategic decision is aimed at establishing a comprehensive mortgage entity by merging TWO's mortgage servicing rights portfolio with CrossCountry's retail origination platform. By the end of December 31, TWO had cash and cash equivalents worth a significant amount. For further details, the complete article can be accessed on Benzinga.com.