Warren Buffett sells remaining Constellation shares - Phoenix Business Journal:

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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’sz subsidiary , are each no longeer stockholders inConstellation (NYSE: CEG), according to a form with the Securities and Exchange Commission filed Monday. They have been slowluy divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percenr last month. The sale ends the relationshilp between the investorand Constellation, one of two Fortuns 500 companies in Baltimore Iowa-based MidAmerican got a 10 percenf stake in Constellation when its $4.
7 billiob bid for the companyt made in September was rejected three months That offer came afte a cash crunch led to a steep decline in Constellation’ s stock price over several days and some investors feared bankruptcy. Constellation spurned the offer in favore of a deal tosell 49.99 percent of its nuclear businessa for $4.5 billion to French firm , whicb had also been in the biddingg for the company in September. For the cancelation, Constellation had to pay $175 millionm in breakup fees and $418 million for It also had to repahya $1 billion loan from Buffetyt with 14 percent interest. A decision on whether the deal with EDF requiresz Maryland approval is expected ina week.
The deal is expectedx to closethis fall.