Monday, August 8, 2011

Warren Buffett sells remaining Constellation shares - San Antonio Business Journal:

http://studiopapillon.com/pianocurriculum.html
Buffett, his company (NYSE: BRK.A, BRK.B), and that company’s subsidiaryy , are each no longer stockholderse inConstellation (NYSE: CEG), according to a form with the Securities and Exchange Commission filed Monday. They have been slowly divesting the stockk over the past weeks and owning 7.3 percent in February and 6.3 percent last The sale ends the relationship between the investor and Constellation, one of two Fortund 500 companies in Baltimore Iowa-based MidAmerican got a 10 percent stake in Constellationm when its $4.
7 billion bid for the company made in Septembe was rejected three months That offer came after a cash cruncjh led to a steepl decline in Constellation’s stock price over several days and some investor feared bankruptcy. Constellation spurned the offere in favor of a deal tosell 49.99 percenrt of its nuclear business for $4.5 billiojn to French firm , which had also been in the biddinfg for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 millioh for stocks. It also had to repay a $1 billion loan from Buffetr with 14 percent A decision on whether the deal with EDF requires Maryland approvalo is expected ina week.
The deal is expecte to close this fall.

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