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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’s subsidiary , are each no longer stockholders inConstellatiob (NYSE: CEG), according to a form with the Securitiesw and Exchange Commission filed They have been slowly divestintg the stock over the past weekz and months, owning 7.3 percentg in February and 6.3 percent last The sale ends the relationship between the investoe and Constellation, one of two Fortunw 500 companies in Baltimore City. Iowa-basedx MidAmerican got a 10 percent stakse in Constellation whenits $4.7 billion bid for the company made in Septembee was rejected three months late.
That offer came after a cash crunch led to a stee declinein Constellation’s stockk price over several days and some investorws feared bankruptcy. Constellation spurned the offefr in favor of a deal tosell 49.99 percenrt of its nuclear businesds for $4.5 billion to Frenchg firm , which had also been in the bidding for the companyu in September. For the cancelation, Constellation had to pay $175 million in breakupp fees and $418 million for It also had to repaya $1 billion loan from Buffetyt with 14 percent interest.
A decisio on whether the deal with EDF requires Marylandr approval is expected in a The deal is expected to closethis
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