reports
Forestar Announces Strategic Asset Sale to Starwood Capital Group for ...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (NYSE: FOR) (“Forestar”) today announced a strategic asset sale for $232 million to a joint venture between an affiliate of Starwood Capital Group (“Starwood”), a leading global private investment firm, and an affiliate of Land Strategies Management (DBA Starwood Land Advisors). The strategic sale includes 20 legacy community development projects owned both directly and indirectly through ventures primarily consisting of approximately 750 developed and under development lots and ove...
Forestar Financial Information to Be Included in D.R. Horton’s Earni...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar”) (NYSE: FOR) announced that as a majority-owned subsidiary of D.R. Horton, Inc. (“D.R. Horton”) (NYSE:DHI), the earnings release for D.R. Horton’s first quarter ended December 31, 2017 is expected to include select preliminary Forestar financial information. D.R. Horton is scheduled to release its earnings on Wednesday, January 31, 2018 before the market opens. D.R. Horton will host a conference call that same morning at 8:30 a.m. Eastern Time (ET), which is expec...
Forestar Announces Fundamental Change and Make-Whole Fundamental Chang...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar”) today announced that it has delivered a notice to holders of its 3.75% Convertible Senior Notes due 2020 (the “Notes”), pursuant to the indenture governing the Notes (as supplemented, the “Indenture”), notifying holders that, as a result of the merger (the “Merger”) pursuant to the Agreement and Plan of Merger, dated as of June 29, 2017, among D.R. Horton Inc. (“D.R. Horton”), Force Merger Sub, Inc. and Forestar, a “Fundamental Change” and a “Make-Whole Fundamental Chan...
Forestar Announces Stockholders’ Approval of Merger Agreement With D...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (NYSE: FOR) (“Forestar”) today announced that its stockholders, at a special meeting held earlier today, overwhelmingly voted in favor of the proposal to adopt the previously announced merger agreement by and among D.R. Horton, Inc. (NYSE: DHI) (“D.R. Horton”), Forestar and Force Merger Sub, Inc. (the “merger agreement”), pursuant to which D.R. Horton has agreed to acquire approximately 75% of the currently outstanding shares of Forestar. The affirmative vote of holders of ...
D.R. Horton and Forestar Announce Final Merger Consideration Election ...
ARLINGTON, Texas & AUSTIN, Texas--(BUSINESS WIRE)-- D.R. Horton, Inc. (NYSE: DHI) (“D.R. Horton”), America’s Builder, and Forestar Group Inc. (NYSE: FOR) (“Forestar”) today announced the final results of the elections made by Forestar stockholders regarding the form of merger consideration they wish to receive in connection with D.R. Horton’s pending acquisition of approximately 75% of the currently outstanding shares of Forestar pursuant to that certain merger agreement by and among D.R. Horton, Forestar and Force Merger Sub, Inc. (the ...
D.R. Horton and Forestar Announce Preliminary Merger Consideration Ele...
ARLINGTON, Texas & AUSTIN, Texas--(BUSINESS WIRE)-- D.R. Horton, Inc. (NYSE: DHI) (“D.R. Horton”), America’s Builder, and Forestar Group Inc. (NYSE: FOR) (“Forestar”) today announced the preliminary results of the elections made by Forestar stockholders regarding the form of merger consideration they wish to receive in connection with D.R. Horton’s pending acquisition of approximately 75% of the currently outstanding shares of Forestar pursuant to that certain merger agreement by and among D.R. Horton, Forestar and Force Merger Sub, I...
Forestar Announces Agreement with D.R. Horton and Terminates Starwood ...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) announced today that it has entered into a definitive agreement with D.R. Horton, Inc. (“D.R. Horton”) (NYSE: DHI) under which D.R. Horton will acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash. As part of the transaction, Forestar and D.R. Horton will enter into a stockholder’s agreement and a master supply agreement that establishes a strategic relationship between Forestar and D.R. Horton for the ...
Forestar Board of Directors Determines Unsolicited Proposal from D.R. ...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) announced today that it had received a revised binding proposal from D.R. Horton, Inc. (“D.R. Horton”) to acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash (an increase from D.R. Horton’s 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 un...
Forestar Announces Amended Merger Agreement with Starwood
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) today announced that it has amended its merger agreement with Starwood Capital Group (“Starwood”) to increase the merger consideration to $15.50 per share in cash. Forestar previously announced that it had entered into a merger agreement with Starwood on April 13, 2017 pursuant to which Starwood would acquire all of the outstanding shares of Forestar common stock for $14.25 per share in cash. Other than the increase in the merger ...
Forestar Board of Directors Determines Unsolicited Proposal from D.R. ...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) announced today that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited, nonbinding proposal received on June 5, 2017 from D.R. Horton, Inc. (“D.R. Horton”) to acquire 75% of the outstanding shares of Forestar common stock for $16.25 in cash could reasonably be expected to lead to a “Superior Proposal,” as defined in Forestar’s merger agreement with Starwood Capital G...
Forestar Confirms Receipt of Unsolicited Acquisition Proposal
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) today confirmed that on June 5, 2017 Forestar’s board of directors received an unsolicited, nonbinding proposal from D.R. Horton, Inc. (“D.R. Horton”) to acquire 75% of the outstanding shares of Forestar common stock for $16.25 in cash. Forestar previously announced that it had entered into a merger agreement with Starwood Capital Group (“Starwood”) on April 13, 2017 pursuant to which Starwood would acquire all of the outstanding sh...
INVESTOR ALERT: Levi & Korsinsky, LLP Announces an Investigation Into ...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Forestar Group Inc. (NYSE:FOR) stock prior to April 13, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Forestar Group to Starwood Capital Group for $14.25 per share. To learn more about the action and your rights, go to: http://zlk.9nl.com/forestar-for or contact Joseph E. Levi, Esq. ei...
New York Metro Superlawyer, Lynda J. Grant, Investigates Forestar Tran...
NEW YORK--(BUSINESS WIRE)-- Lynda J. Grant, an attorney with over 30 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm, PLLC is investigating potential claims on behalf of shareholders of Forestar Group, Inc (NYSE: FOR) for securities fraud and/or breaches of fiduciary duty. A class action lawsuit was filed against Forestar Group Inc. (“Forestar Group” or the “Company”) (NYSE:FOR) in the United States District Court for the Western District of ...
INVESTOR ALERT: Brower Piven Commences An Investigation Into The Propo...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Forestar Group Inc. (NYSE: FOR) (“Forestar” or the “Company”) relating to the proposed buyout of Forestar by Starwood Capital Group. Under the terms of the agreement, Forestar shareholders are anticipated to receive $14.25 in cash for each share of Forestar common stock held. ...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Forestar Group Inc. (NYSE: FOR) (“Forestar” or the “Company”) relating to the proposed buyout of Forestar by Starwood Capital Group. Under the terms of the agreement, Forestar shareholders are anticipated to receive $14.25 in cash for each share of Forestar common stock held. ...
INVESTOR ALERT: Levi & Korsinsky, LLP Announces an Investigation Into ...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Forestar Group Inc. (NYSE:FOR) stock prior to April 13, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Forestar Group to Starwood Capital Group for $14.25 per share. To learn more about the action and your rights, go to: http://zlk.9nl.com/forestar-for or contact Joseph E. Levi, Esq. ei...
FORESTAR GROUP INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Bris...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Forestar Group Inc. (“Forestar”) (NYSE: FOR) concerning the sale to Starwood Capital Group. Under the terms of the agreement, Forestar shareholders will only receive $14.25 for each share owned, which is virtually no premium over the 52-week high and lower than at least one analyst’s estimated value of $16.00 per share. If you are an affected investor, an...
Forestar Group Inc. to Be Acquired by Starwood Capital Group
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with affiliates of Starwood Capital Group (“Starwood”) under which Starwood will acquire all of the outstanding shares of common stock of the Company for $14.25 per share in cash. The total transaction equity value is approximately $605 million. The transaction price of $14.25 per share represents an 8.2% premium to the 90-day volume weig...
Forestar Group Inc. Provides Additional Information on Execution of Ke...
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (NYSE: FOR): 2016 Transformation - Highlights Core Community Development: Sold 1,940 developed residential lots for approximately $68,200 per lot with average gross profit of approximately $23,400 per lot Excluding 235 bulk lot sales from non-core projects, average price was $72,200 per lot with average gross profit of approximately $26,500 per lot Over 2,100 lots currently ...
Forestar Group to Release Fourth Quarter 2016 Results on March 1, 2017
AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (NYSE: FOR) will release its results for fourth quarter 2016 on March 1, after the market closes. The company will host a conference call on Thursday, March 2, 2017 at 10:00 a.m. ET to discuss results for fourth quarter 2016. To access the conference call, listeners calling from North America should dial 1-844-634-1445 at least 15 minutes prior to the start of the call. Those wishing to access the call from outside North America should dial 1-615-247-0254. The pass...
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