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Forestar Group Inc. to Be Acquired by Starwood Capital Group

AUSTIN, Texas–(BUSINESS WIRE)–Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with affiliates of Starwood Capital Group (“Starwood”) under which Starwood will acquire all of the outstanding shares of common stock of the Company for $14.25 per share in cash. The total transaction equity value is approximately $605 million. The transaction price of $14.25 per share represents an 8.2% pr