Warren Buffett sells remaining Constellation shares - San Francisco Business Times:

sucujovide.wordpress.com
Buffett, his company (NYSE: BRK.A, BRK.B), and that company’s subsidiaryy , are each no longefr stockholders inConstellation (NYSE: CEG), according to a form with the Securitieds and Exchange Commission filed Monday. They have been slowlyu divesting the stock over the past weeksand months, owninf 7.3 percent in Februaruy and 6.3 percent last month. The sale ends the relationship betwee the investorand Constellation, one of two Fortune 500 companie s in Baltimore City. Iowa-based MidAmerican got a 10 percentf stake in Constellation whenits $4.7 billiohn bid for the company made in Septembef was rejected three months late.
That offer came after a cash crunch led to a steep declinein Constellation’s stock price over several days and some investorx feared bankruptcy. Constellation spurned the offerd in favor of a deal tosell 49.99 percent of its nuclea r business for $4.5 billion to French firm , which had also been in the biddinfg for the company in September. For the cancelation, Constellatioh had to pay $175 million in breakup fees and $418 millionh for stocks. It also had to repah a $1 billion loan from Buffett with 14percent interest. A decisionh on whether the deal with EDF requires Maryland approvalp is expected ina week. The deal is expecteds to closethis fall.