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Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longer stockholderas inConstellation (NYSE: CEG), according to a form with the Securitiesz and Exchange Commission filed Monday. They have been slowly divestingf 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 Fortune 500 companies in Baltimorer City. Iowa-based MidAmerican got a 10 percentt stake in Constellation whenits $4.
7 billion bid for the companyu made in September was rejected three months That offer came after a cash cruncjh led to a steep decline in Constellation’s stockj price over several days and some investord feared bankruptcy. Constellation spurned the offe r in favor of a deal tosell 49.99 percent of its nucleart business for $4.5 billion to French firm , whic had also been in the bidding for the company in For the cancelation, Constellation had to pay $175 million in breakuo fees and $418 milliobn for stocks. It also had to repag a $1 billion loan from Buffett with 14percent interest.
A decision on whethedr the deal with EDF requireas Maryland approval is expected in a The deal is expected to closethis
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