Forestar Board of Directors Determines Unsolicited Proposal from D.R. Horton Constitutes a “Superior Proposal”

June 23, 2017

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AUSTIN, Texas–(BUSINESS WIRE)–Forestar Group Inc. (“Forestar” or the “Company”) (NYSE: FOR) announced today that it had received a revised binding proposal from D.R. Horton, Inc. (“D.R. Horton”) to acquire 75% of the outstanding shares of Forestar common stock for $17.75 per share in cash (an increase from D.R. Horton’s previous offer of $16.25 in cash per share to acquire 75% of the outstanding shares of Forestar common stock) and that its board of directors, after consultation with its outs

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