Forestar Weighing Surprise Bid from Homebuilder D.R. Horton

Forestar Group Inc. (NYSE:FOR) confirmed that it had received an unsolicited, nonbinding proposal from D.R. Horton Inc. to acquire 75% of the outstanding shares of Forestar common stock for $ 16.25 in cash. The unexpected offer beats the previously announced offer from Starwood Capital Group to buy Forestar for $ 14.25 per share (approximately $ 605 million). Forestar, a residential and mixed-use real estate development company, owns interests…
National Commercial Real Estate News From CoStar Group

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