FORESTAR GROUP INC. (NYSE:FOR) Files An 8-K Other Events

ME Staff 8-k
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FORESTAR GROUP INC. (NYSE:FOR) Files An 8-K Other Events
Item 8.01. Other Events.

On September22, 2017, Forestar Group Inc. (“Forestar”), in accordance with its previously announced initiative to sell non-core assets, sold its remaining oil and gas entities. The sale is expected to generate tax losses which are currently anticipated to substantially reduce Forestar’s income tax expense for the fiscal year ended December31, 2017.

Forward-Looking Statements

Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to Forestar on the date this document was issued. Forestar does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Some forward-looking statements discuss Forestar’s plans, strategies and intentions. They use words such as “expects,” “may,” “will,” “believes,” “should,” “would,” “could,” “approximately,” “anticipates,” “estimates,” “targets,” “intends,” “likely,” “projects,” “positioned,” “strategy,” “future,” and “plans.” In addition, these words may use the positive or negative or other variations of those terms. Forward-looking statements also include all other statements in this press release that are not historical facts.

Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking statements include, but are not limited to: Forestar’s ability to obtain requisite approval from its stockholders for the merger with D.R. Horton Inc. (“D.R. Horton”). D.R. Horton’s and Forestar’s ability to satisfy the conditions to closing of the proposed Merger; and other risks related to the completion of the proposed merger and actions related thereto. Additional information about issues that could lead to material changes in performance is contained in Forestar’s annual report on Form10-K and its most recent quarterly report on Form10-Q, all of which are filed with the Securities and Exchange Commission (the “SEC”). There can be no assurance that the merger will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the merger will be realized.


About FORESTAR GROUP INC. (NYSE:FOR)

Forestar Group Inc. is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties. Its Oil and Gas segment is an independent oil and gas exploration, development and production operation and manages its owned and leased mineral interests. Its Other Natural Resources segment manages its timber, recreational leases and water resource initiatives. The Company owns directly or through ventures interests in approximately 60 residential and mixed-use projects consisting of over 7,000 acres of real estate located in approximately 10 states and approximately 20 markets.