Apr
17
Starwood Capital to Acquire Austin’s Forestar Group
ByThe Forestar board unanimously approved the $605 million merger, which is expected to close in the third quarter of 2017. The firm has been reducing its debt and exiting non-core assets for the last 18 months.
Forestar Group Inc. has entered into a merger agreement with affiliates of Starwood Capital Group under which Starwood will acquire Forestar for $14.25 per share in cash, or about $605 million, Forestar announced late last week.
The transaction price reportedly represents an 8.2 percent premium to the 90-day volume weighted average price of Forestar’s common stock…
Starwood Capital to Acquire Austin’s Forestar Group
