Also

* Clayton Homes Inc., the mobile home maker being sought by Warren Buffett’s Berkshire Hathaway Inc., said it has signed an agreement allowing investment firm Cerberus Capital Management to review its books and make a rival bid.

* San Diego software company Peregrine Systems Inc. said a U.S. Bankruptcy Court has confirmed its plan of reorganization. The development is one of the final milestones before Peregrine’s expected emergence from Chapter 11 bankruptcy protection in August.

* Yahoo Inc. Chairman and Chief Executive Terry Semel reaped a profit of at least $11 million after exercising options on 500,000 shares and then immediately selling them, the company said in a regulatory filing.

* As expected, AOL Time Warner Inc. said it would sell its compact disc and DVD manufacturing operations to Canada’s Cinram International Inc. for $1.05 billion and use the cash to reduce debt.