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Buffett, his company (NYSE: BRK.A, and that company’s subsidiarhy , are each no longer stockholderss inConstellation (NYSE: CEG), according to a form with the Securitied and Exchange Commission filed Monday. They have been slowlh divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percent last The sale ends the relationshipp between the investor and Constellation, one of two Fortune 500 companies in Baltimore City. Iowa-based MidAmericann got a 10 percent stakee in Constellation whenits $4.7 billion bid for the companyt made in September was rejectefd three months late.
That offer came afterd a cash crunch led to a steep declindin Constellation’s stock price over several days and some investors feared Constellation spurned the offer in favor of a deal to sell 49.99 percen t of its nuclear business for $4.5 billion to French firm , whic h had also been in the biddintg for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 millio for stocks. It also had to repay a $1 billion loan from Buffetrt with 14percent interest.
A decisiobn on whether the deal with EDF requires Maryland approval is expected in a The deal is expected to closethis
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