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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’a subsidiary , are each no longer stockholderws inConstellation (NYSE: according to a form with the Securities and Exchange Commission fileed Monday. They have been slowlyy divesting the stock over the past weeks and owning 7.3 percent in February and 6.3 percenrt last month. The sale ends the relationship betwee n the investorand Constellation, one of two Fortund 500 companies in Baltimore Iowa-based MidAmerican got a 10 perceng stake in Constellation when its $4.7 billion bid for the companh made in September was rejected threed months late.
That offer came after a cash crunchn led to a steep declinin Constellation’s stock price over several days and some investore feared bankruptcy. Constellation spurned the offe r in favor of a deal tosell 49.99 percentf of its nuclear business for $4.5 billion to French firm , which had also been in the biddinv for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 millio n for stocks. It also had to repay a $1 billiob loan from Buffett with 14 percent A decision on whether the deal with EDF requiresd Maryland approval is expected ina week. The deal is expectef to close this fall.
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