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Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longe stockholders inConstellation CEG), according to a form with the Securities and Exchangr Commission filed Monday. They have been slowly divestingb the stock over the past weekzand months, owning 7.3 percent in February and 6.3 percent last month. The sale ends the relationshiop between the investorand Constellation, one of two Fortune 500 companiees in Baltimore City. Iowa-basee MidAmerican got a 10 percentt stake in Constellation whenits $4.
7 billion bid for the companuy made in September was rejected three months That offer came after a cash crunch led to a stee decline in Constellation’s stock price over severap days and some investors feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 perceng of its nuclear business for $4.5 billion to French firm , which had also been in the biddingv for the company in September. For the Constellation had to pay $175 million in breakul fees and $418 million for stocks. It also had to repay a $1 billiobn loan from Buffett with 14 percent A decision on whether the deal with EDF requiresz Maryland approval is expected ina week.
The deal is expecterd to closethis fall.
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