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Berkshire to Buy Oakwood Homes

November 26, 2003|From Bloomberg News

Warren E. Buffett's Berkshire Hathaway Inc. agreed to buy Oakwood Homes Corp. out of bankruptcy protection for $373 million and combine it with Clayton Homes Inc. to create the biggest U.S. mobile-home maker.

Buffett, who bought Clayton Homes two months ago for $1.7 billion, had contributed to a $215-million program to finance Oakwood, based in Greensboro, N.C., during bankruptcy proceedings.

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