June 8, 2017 / 12:24 PM / 5 months ago

Forestar says D.R. Horton's offer could be superior to Starwood bid

June 8 (Reuters) - Forestar Group Inc said on Thursday U.S. homebuilder D.R. Horton Inc’s offer to buy a majority of the real estate developer could be superior to Starwood Capital Group’s bid to buy Forestar.

Forestar said it was still subject to the merger agreement with investment firm Starwood, which in April said it would buy the Texas-based company for $14.25 per share.

D.R. Horton on Monday offered to buy 75 percent of Forestar for $16.25 per share or about $520 million in cash. (Reporting by Arunima Banerjee in Bengaluru; Editing by Sai Sachin Ravikumar)

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