ADDISON, Ala. (AP) -- Federal regulators have completed their review of Southern Energy Homes Inc.'s plans to purchase Cavalier Homes Inc. and the deal is now expected to close Sept. 1, Cavalier said Monday.

Southern Energy Homes, an Addison, Ala.-based subsidiary of Clayton Homes, which is a Berkshire Hathaway company, will pay Cavalier shareholders $2.75 per share of Cavalier stock they own.

Cavalier's shares are expected to stop trading at the close of business Tuesday.

The manufactured housing company also announced it will close a plant in Millen, Ga. due to slower business. The Cavalier closure will affect 100 employees.

Cavalier Homes shares were down 1 cent to $2.74 in midday trading Monday.