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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’s subsidiaruy , are each no longef stockholders inConstellation (NYSE: CEG), according to a form with the Securitiesd and Exchange Commission filer Monday. They have been slowly divesting the stoc over the past weeks and owning 7.3 percent in February and 6.3 percent last month. The sale ends the relationshil between the investorand Constellation, one of two Fortun 500 companies in Baltimore City. Iowa-based MidAmerican got a 10 percenr stake in Constellation whenits $4.7 billion bid for the companyt made in September was rejected three months late.
That offer came aftef a cash crunch led to a stee declinein Constellation’s stock price over several days and some investor feared bankruptcy. Constellation spurned the offer in favo of a deal tosell 49.99 percent of its nuclearf business for $4.5 billion to French firm , whicy had also been in the bidding for the company in For the cancelation, Constellation had to pay $175 millionn in breakup fees and $418 milliomn for stocks. It also had to repay a $1 billion loan from Buffett with 14percent interest. A decisiom on whether the deal with EDF requires Maryland approval is expected in a The deal is expected to closthis fall.
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