Forestar reverses course on D.R. Horton’s $520M takeover bid

Forestar Group Inc. appears to be warming up to D.R. Horton Inc.’s proposal to buy 75 percent of the company for about $520 million.
The Austin-based real estate company said Thursday in a securities filing that its directors believe the D.R. Horton bid of $16.25 per share could lead to a "superior proposal," and will give it serious consideration versus a previous offer by Starwood Capital Group to buy out the entire business.
That means Forestar’s directors can enter negotiations with D.R. Horton…

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