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Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longer stockholders inConstellatiojn (NYSE: CEG), according to a form with the Securities and Exchangwe Commission filed Monday. They have been slowlyt divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percenft last month. The sale ends the relationshil between the investor and one of two Fortunr 500 companies inBaltimore Iowa-based MidAmerican got a 10 percent stake in Constellatiomn when its $4.7 billion bid for the company made in September was rejected three months late.
That offer came after a cash cruncn led to a steep declinein Constellation’es stock price over several days and some investore feared bankruptcy. Constellation spurned the offet in favor of a deal tosell 49.99 percent of its nuclear business for $4.5 billion to Frencjh firm , which had also been in the biddingh for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 millionm for stocks. It also had to repau a $1 billion loan from Buffett with 14 percent interest. A decision on whether the deal with EDF requiree Maryland approval is expected ina week. The deal is expectedc to closethis fall.
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