Antitrust approvals and other news

Weekly Corporate Growth Report, May 12, 2003

Berkshire Hathaway Inc. has received antitrust clearance from the Federal Trade Commission for its proposed $1.7 billion acquisition of Clayton Homes Inc. The Commission has granted the companies early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act.

Computer Network Technology Corporation has received antitrust approval from the Federal Trade Commission for its proposed acquisition of a 91 percent stake in Inrange Technologies Corp. from SPX Corp. Computer Network Technologies has signed a definitive agreement to acquire Inrange for $190 million in cash, or $2.31 per share.

Shareholders of Pirelli & C. have approved the company's plan to merge with Pirelli SpA, an Italian tire-and-cable giant already controlled by Pirelli & C. Three shares of Pirelli & C. will be offered for each share of Pirelli SpA, and ten new savings share for every seven Pirelli savings shares. The merger will create a conglomerate with interests in tires, power and telecommunications cables, real estate, and a key stake in Olivetti SpA and Telecom Italia SpA.

NDCHealth Corp. is purchasing the remaining 37 percent stake in TechRx Inc. for about $110 million in cash. Last May, NDCHealth acquired a controlling interest in TechRx for $51 million, in a deal that included the right to acquire the remaining interest one year later. The acquisition is expected to close on or around May 28.