Real Estate Services | Austin, TX | Corporate Acquisition
US homebuilder D.R. Horton (NYSE: DHI) has submitted a proposal to acquire a 75% stake in fellow construction group Forestar (NYSE: FOR) for $16.25 per share in cash, representing a 14% premium to the price offered by Starwood Capital in a separate proposal that was agreed to in April. D.R. Horton's new bid would be worth roughly $520 million. Forestar would remain a public company under the proposed transaction; the company's stock jumped 13% on Monday.