Austin’s Forestar receives competing buyout bid from nation’s most prolific homebuilder

Forestar Group Inc., just weeks after announcing it intended to go private in a investment acquisition, has received a bigger, $520 million buyout offer from D.R. Horton Inc., one of the nation’s most prolific volume homebuilders.
Under the proposal, D.R. Horton (NYSE: DHI) would purchase 75 percent of the outstanding shares of Forestar (NYSE: FOR), which would remain publicly traded. The deal is worth $16.25 per share in cash, a 14 percent premium compared with the previously announced bid by Starwood…

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