ogarawo.wordpress.com
Buffett, his company (NYSE: BRK.A, and that company’s subsidiar , are each no longer stockholderds inConstellation (NYSE: CEG), according to a form with the Securitie s and Exchange Commission filed Monday. They have been slowlu divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percent last month. The sale ends the relationshipp between the investorand Constellation, one of two Fortunee 500 companies in Baltimore City. Iowa-based MidAmerican got a 10 percentr stake in Constellation whenits $4.7 billionb bid for the company made in Septemberd was rejected three months late.
That offer came afterf a cash crunch led to a stee declinein Constellation’s stock price over several days and some investorsx feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 percengt of its nuclear busines s for $4.5 billion to French firm , which had also been in the biddinbg for the company in For the cancelation, Constellationh had to pay $175 million in breakupo fees and $418 million for stocks. It also had to repagy a $1 billion loan from Buffett with 14 percent A decision on whethefr the deal with EDF requiree Maryland approval is expected ina week. The deal is expectede to closethis fall.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment