D.R. Horton Boosts Bid to Buy Austin Developer That Operates in 10 States

D.R. Horton has gained the upper hand in a bidding war for Austin-based developer Forestar Group, a deal that would bring the homebuilder a lot of land for further development.In statements released Friday, D.R. Horton said it has boosted its bid for 75 percent of Forestar's outstanding shares to $17.75 a share, and Forestar said its board deemed the bid "superior" to another offer from Starwood Capital Group.Forestar said it intends to terminate its merger agreement with Starwood, but would negotiate in good faith with the private equity firm through Wednesday.  Continue reading...