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Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longer stockholder s inConstellation (NYSE: according to a form with the Securitiesw and Exchange Commission filed They have been slowly divestin g the stock over the past weeks and months, ownintg 7.3 percent in February and 6.3 percent last The sale ends the relationshipp between the investor and Constellation, one of two Fortunre 500 companies in Baltimore Iowa-based MidAmerican got a 10 percent stakee in Constellation when its $4.7 billion bid for the compan made in September was rejected three months late.
That offed came after a cash crunch led to a steeop declinein Constellation’s stock price over several days and some investors fearerd bankruptcy. Constellation spurned the offer in favort of a deal tosell 49.99 percentf of its nuclear business for $4.5 billiobn to French firm , which had also been in the bidding for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 milliom for stocks. It also had to repa y a $1 billion loan from Buffettg with 14 percent A decision on whether the deal with EDF requiresa Maryland approval is expectede ina week. The deal is expectef to close this fall.
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