UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 29, 2009
FORESTAR GROUP INC.
(Exact name of Registrant as specified in its charter)
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| Delaware
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001-33662
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26-1336998 |
| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
| of incorporation)
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File Number)
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Identification No.) |
6300 Bee Cave Road, Building Two, Suite 500
Austin, Texas 78746
(Address of Principal Executive Officers including Zip Code)
(512) 433-5200
(Registrant’s Telephone Number, including Area Code)
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 1.01 Entry into a Material Definitive Agreement.
On June 29, 2009, Forestar Group Inc. (the “Company”) issued a press release announcing, as
part of its strategic initiatives designed to enhance shareholder value, that its wholly owned
subsidiary, Forestar (USA) Real Estate Group Inc. (“Forestar Real Estate”), had entered into a
definitive agreement (the “Agreement”) with Holland M. Ware (“Ware”) to sell to Ware approximately
20,000 acres of HBU timberlands located in Georgia (the “Timberlands”) for a cash purchase price of
$39,492,100.
The parties anticipate closing the transaction in third quarter 2009, subject to customary
closing conditions. The Company intends to use the proceeds from this sale to reduce debt in
accordance with its previously announced strategic initiatives.
A copy of the press release issued by the Company is attached to this Current Report on Form
8-K as Exhibit 99.1.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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| Exhibit No. |
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Description of Exhibit |
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99.1
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Press Release issued by Forestar Group Inc., dated June 29, 2009 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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FORESTAR GROUP INC.
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| Date: June 29, 2009 |
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/s/ David M. Grimm
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Name: |
David M. Grimm |
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Title: |
Chief Administrative Officer,
General Counsel and
Secretary |
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