Real Estate Services | Austin, TX | Corporate Acquisition
US homebuilder D.R. Horton has increased its offer to acquire 75% of property development group Forestar to $17.75 per share in cash. Forestar's board deemed the offer superior to an amended agreement reached in April between Forestar and Starwood Capital, despite the Starwood's own increased bid of $16 per share. Forestar (NYSE: FOR) gained 7% Friday to close at $17.65.