Starwood raises bid for Austin’s Forestar

Competing visions for the future of Austin-based real estate company Forestar Group Inc. are pushing up its buyout price.
Starwood Capital Group LLC, a Connecticut-based global investment firm, agreed June 21 to buy Forestar shares for $15.50 in cash, according to a securities filing— up from its previous bid of $14.25 per share.
That ups the stakes for D.R. Horton Inc., the nation’s largest homebuilder, which in in early June offered to buy 75 percent of Forestar(NYSE: FOR) for $16.25 per share…

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