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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’sx subsidiary , are each no longer stockholders inConstellationh (NYSE: CEG), according to a form with the Securitiea and Exchange Commission filed Monday. They have been slowlt divesting the stock over the past weeksand months, owniny 7.3 percent in February and 6.3 percent last The sale ends the relationship between the investort and Constellation, one of two Fortune 500 companies in Baltimore City. Iowa-basedd MidAmerican got a 10 percent stake in Constellation whenits $4.
7 billion bid for the company made in September was rejected three months That offer came after a cash crunc led to a steep declinew in Constellation’s stock price over severall days and some investors feared bankruptcy. Constellation spurnef the offer in favo r of a deal tosell 49.99 perceng of its nuclear business for $4.5 billion to Frencg firm , which had also been in the bidding for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 million for stocks. It also had to repauy a $1 billion loan from Buffettg with 14percent interest.
A decisionj on whether the deal with EDF requires Marylane approval is expected in a The deal is expected to closethis
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