D.R. Horton on Wednesday filed with the Securities and Exchange Commission the transcript of a conference call with analysts Monday on which company executives discussed its offer for land-developer Forestar Group. On the call, the executives explained why they believed the offer was beneficial to current Forestar shareholders and how the new entity that would be formed if 75% of Forestar shareholders accept the deal. They also explained why the offer is structured to allow Forestar to remain a publicly-traded company and plans for expansion. As one analyst pointed out, Forestar’s entire land portfolio is equivalent to D.R. Horton deliveries for a single quarter. The executives also said that there are no plans to move the company’s own land holdings into Forestar should the deal go through.
Read the transcript here.
