© 2017 The Texas Lawbook.
By Natalie Posgate
(June 6) – Jeff Chapman and a group of other Dallas Gibson, Dunn & Crutcher put on their hard hats Monday to build a proposal by Fort Worth-based D.R. Horton, the No. 1 U.S. homebuilder, to purchase a majority stake in Forestar Group for $520 million.
The nonbinding agreement entails D.R. Horton purchasing 75 percent of the outstanding shares of Forestar, an Austin-based residential and mixed-use real estate development company, for $16.25 per share.
Other Dallas attorneys on the Gibson Dunn deal team also included corporate associates Jonathan Whalen, Joseph Orien and Louis Matthews; benefits associate Krista Hanvey; tax partner David Sinak; and tax associate Michael Cannon.
Attorneys from the firm’s New York and Washington, D.C. offices were also involved.
Skadden Arps Slate Meagher & Flom is representing Forestar in the deal.
Moelis & Company is serving as D.R. Horton’s financial advisor, while JMP Securities is advising Forestar.
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