Investors led by Cerberus Capital Management have pulled back from making an offer for Clayton Homes Inc., leaving Warren Buffett's $1.7-billion bid for the maker of manufactured homes unchallenged.
Clayton shareholders are set to vote on Buffett's offer today.
Shares of Clayton Homes fell 86 cents to close at $12.54 on the New York Stock Exchange. Buffett's offer values Clayton at $12.50 a share, but investors have been buying the stock at higher prices in anticipation of a larger offer. Buffett has vowed not to raise his offer.