Forestar Announces Amended Merger Agreement with Starwood
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Forestar Group (FOR) Determines Unsolicited Proposal from D.R. Horton (DHI) Constitutes 'Superior Proposal'
June 23, 2017 8:36 AM EDTForestar Group Inc. (NYSE: FOR) announced today that it had received a revised binding proposal from D.R. Horton, Inc. (NYSE: DHI) to acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash (an increase from D.R. Hortons previous offer of $16.25 in cash per share to acquire 75% of the outstanding shares of Forestar common stock) and that its board of directors, after consultation with its outside legal and financial advisors, has unanimously determined that the revised proposal constitutes a Superior Proposal, as defined in Forestars... More
