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D.R. Horton Inc (DHI.N)

DHI.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

D.R. Horton says merger agreement with Forestar contains termination rights for co,Forestar, in event merger is not consummated by Jan 25
Thursday, 29 Jun 2017 09:23am EDT 

June 29 (Reuters) - D.R. Horton Inc :D.R. Horton Inc - Merger agreement with Forestar contains termination rights for co,Forestar, in event merger is not consummated by Jan 25, 2018.D.R. Horton Inc - Forestar must pay co $20 million termination fee if co terminates merger following change of recommendation - SEC Filing.D.R. Horton - Merger agreement contains termination rights for co, Forestar, including mutual termination right if merger is not consummated by Jan 25, 2018.D.R. Horton - ‍upon termination of deal if Forestar stockholders don't approve deal/certain circumstances, Forestar to pay co upto $4 million for expenses incurred by co​.  Full Article

D.R. Horton and Forestar announce merger agreement
Thursday, 29 Jun 2017 08:45am EDT 

June 29 (Reuters) - D.R. Horton Inc :D.R. Horton and Forestar announce merger agreement to create a leading national land development company.D.R. Horton has cash and other immediately available capital to fund approximately $560 million cash consideration.Transaction is expected to be accretive to D.R. Horton's fiscal 2018 earnings.Currently intends to gradually reduce its ownership position in Forestar and increase public float of Forestar stock.‍Forestar will operate as public co led by Donald Tomnitz, former CEO of co, as exec chairman,members of current Forestar management team​.‍Forestar's headquarters will remain in austin​.  Full Article

D.R. Horton reiterates proposal to acquire 75 pct of Forestar Group’s common stock for $16.25/shr
Thursday, 22 Jun 2017 07:42am EDT 

June 22 (Reuters) - D.R. Horton Inc :d.r. Horton reiterates proposal to acquire 75% of forestar group’s common stock for $16.25 per share.d.r. Horton reiterates proposal to acquire 75% of forestar group’s common stock for $16.25 per share.d.r. Horton inc - "believes its proposal will provide superior value to forestar shareholders over amended agreement with starwood capital group".  Full Article

D.R. Horton announces confidentiality agreement with Forestar Group
Friday, 9 Jun 2017 06:55am EDT 

June 9 (Reuters) - D.R. Horton Inc ::D.R. Horton, Inc announces confidentiality agreement with Forestar Group Inc.D.R. Horton - both cos to exchange information, participate in discussions related to co's proposal to but 75% outstanding shares of Forestar stock.  Full Article

D.R. Horton proposes to acquire 75 pct of Forestar
Monday, 5 Jun 2017 06:30am EDT 

June 5 (Reuters) - D.R. Horton Inc :D.R. Horton, Inc. proposes to acquire 75 percent of Forestar Group Inc. for $16.25 per share in cash.D.R. Horton Inc - D.R. Horton has cash and other immediately available capital to fund approximately $520 million investment​.D.R. Horton Inc - ‍transaction would be effected through a merger of a newly formed, wholly owned subsidiary of D.R. Horton with Forestar​.D.R. Horton Inc - under proposed transaction, Forestar would remain a public company​.D.R. Horton Inc - ‍Forestar would be led by new executive chairman Donald Tomnitz​.D.R. Horton - cash, stock elections to be prorated such that 75% of shares of Forestar outstanding before deal are converted into $16.25/share cash consideration.D.R. Horton Inc says Forestar would remain a public company, and its common stock will trade on NYSE.  Full Article

D.R. Horton announces repurchase of common stock
Tuesday, 16 May 2017 06:55am EDT 

May 16 (Reuters) - D.R. Horton Inc :Announces repurchase of common stock.Company has $39.4 million remaining on its current stock repurchase authorization, which expires on July 31, 2017.  Full Article

D.R. Horton Inc reports Q2 earnings per share $0.60
Thursday, 20 Apr 2017 06:55am EDT 

April 20 (Reuters) - D.R. Horton Inc :D.R. Horton Inc reports fiscal 2017 second quarter earnings and declares quarterly dividend of $0.10 per share.Q2 earnings per share $0.60.Q2 earnings per share view $0.59 -- Thomson Reuters I/B/E/S.Sees FY 2017 revenue $13.6 billion to $14 billion.D.R. Horton Inc says reaffirming fiscal 2017 guidance for consolidated pre-tax profit margin in a range of 11.2% to 11.5%.D.R. Horton Inc - increasing fiscal 2017 guidance for consolidated revenues to a range of $13.6 billion to $14.0 billion and for homes closed between 44,500 and 46,000.Qtrly homes closed increased 18% in value to $3.2 billion and 15% in homes to 10,685.D.R. Horton Inc says qtrly net sales orders increased 17% in value to $4.2 billion and 14% in homes to 13,991.Sees home sales gross margin of around 20% in 2017.Qtrly co's sales order backlog of homes under contract at March 31, 2017 increased 7% to 14,618 homes and 9% in value to $4.4 billion.Sees cash flow from operations in range of $300 million to $500 million in 2017.D.R. Horton Inc says homebuilding revenue for Q2 of fiscal 2017 increased 17% to $3.2 billion from $2.7 billion in same quarter of fiscal 2016.  Full Article

Sanders Capital LLC reports 6.34 percent passive stake in D.R. Horton Inc
Wednesday, 1 Feb 2017 12:43pm EST 

D.R. Horton Inc :Sanders Capital LLC reports a 6.34 percent passive stake in D.R. Horton Inc as on December 31, 2016 - SEC filing.  Full Article

DHI Mortgage Company Ltd enters into a third amendment to second amended and restated master repurchase agreement
Tuesday, 27 Sep 2016 05:09pm EDT 

D.R. Horton Inc : D.R. Horton Inc unit DHI Mortgage Company, Ltd., entered into a third amendment to second amended and restated master repurchase agreement . Committed sums available under amended repurchase facility are increased to $700 million between September 23, 2016 and November 21, 2016 . After Nov 21,sums available under amended facility is $550 million during last 5 days of any fiscal quarter,first 25 days of following fiscal quarter .Third amendment increases maximum aggregate commitment amount available under amended repurchase facility to $800 million - SEC filing.  Full Article

D.R. Horton sees FY 2017 gross margin around 20 pct - Conf Call
Thursday, 21 Jul 2016 10:56am EDT 

D.R. Horton Inc : Says sees FY 2017 consolidated revenue to grow 10-15 pct . Says sees FY 2017 cash flow $300 mln-$500 mln . Says sees FY 2017 consolidated pre-tax margin to increase 11.2 pct-11.5 pct . Says sees ASPs to be flat to down slightly in 2017 as Express becomes bigger part of mix . Says sees FY 2017 tax rate between 35-36 pct . Says sees FY 2017 gross margin around 20 pct Further company coverage: [DHI.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Forestar agrees to D.R. Horton's offer; scraps Starwood deal

Forestar Group Inc scrapped its merger agreement with investment firm Starwood Capital Group on Thursday and said U.S. homebuilder D.R. Horton Inc would buy a 75 percent stake in the company.