Clayton Shareholders OK Berkshire Deal
From Associated Press
Clayton Homes Inc. shareholders approved a $1.7-billion buyout offer for the huge manufactured housing concern from Warren Buffett’s Berkshire Hathaway Inc.
Clayton executives said a preliminary count showed that the deal was approved by holders of 61.8% of the shares participating, or about 52.3% of the shares outstanding.
The $12.50-a-share offer from the Omaha billionaire investor was the only one on the table for shareholders, who met at Clayton headquarters in Maryville, Tenn.
Clayton shares fell 4 cents to close at $12.50 on the New York Stock Exchange.
