D.R. Horton, Forestar to Merge in $558M Transaction

FORT WORTH AND AUSTIN, TEXAS — Fort Worth-based homebuilder D.R. Horton Inc. has entered into a merger agreement with Austin-based residential and mixed-use developer Forestar Group Inc. Under the terms of the agreement, D.R. Horton will acquire 75 percent of Forestar’s outstanding shares for $17.75 per share in cash. Forestar has approximately 42 million outstanding shares, according to The Wall Street Journal, giving the transaction a value of roughly $558 million.