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Southern Energy Homes, Inc. Agrees to be Acquired for $8.50 per Share by Clayton Homes.

Publication: PR Newswire
Publication Date: 16-AUG-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
ADDISON, Ala., Aug. 16 /PRNewswire-FirstCall/ -- Southern Energy Homes, Inc. (OTC Pink Sheets: SEHI) announced today that it entered into a definitive Merger Agreement to be acquired by Clayton Homes for $8.50 cash per share. Clayton Homes is the nation's largest builder and retailer of manufactured housing.

"This agreement represents a 30% premium over yesterday's closing stock price in an all-cash offer to acquire Southern Energy Homes," stated Keith Holdbrooks, Southern Energy's Chief Executive Officer. "Our Board of Directors unanimously approved the proposed merger with Clayton Homes and believes it represents a tremendous opportunity to maximize shareholder value.

"We believe this...



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