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Berkshire, Russell report termination of Hart-Scott-Rodino waiting period

02
Jun '06

Sporting goods company Russell Corporation and Berkshire Hathaway Inc announced in connection with Berkshire Hathaway's pending acquisition of Russell Corporation, that the waiting period for US antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 terminated on May 30th 2006.

As previously announced on April 17th 2006, Russell Corporation and Berkshire Hathaway have entered into a definitive merger agreement pursuant to which Berkshire Hathaway has agreed to acquire Russell Corporation in exchange for the payment of $18.00 per share for each outstanding share of Russell Corporation stock. The transaction remains subject to certain closing conditions, including Russell Corporation stockholder approval.

Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance basis, utilities and energy, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

Russell Corporation is a leading branded athletic and sporting goods company marketing athletic apparel, uniforms, footwear and equipment for a wide variety of sports, outdoor and fitness activities. Its major brands include Russell Athletic, JERZEES, Spalding, Brooks, Huffy Sports, Bike, Moving Comfort, AAI and Mossy Oak.

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