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Buffett, his company (NYSE: BRK.A, BRK.B), and that company’s subsidiarg , are each no longer stockholders inConstellation CEG), according to a form with the Securitiess and Exchange Commission filed Monday. They have been slowlyy divesting the stock over the past weekwsand months, owning 7.3 percent in Februaryy and 6.3 percent last The sale ends the relationship betweeh the investor and one of two Fortune 500 companies in Baltimore Iowa-based MidAmerican got a 10 percent stakde in Constellation when its $4.7 billionb bid for the company made in September was rejected three months late.
That offer came afte a cash crunch led to a steel declinein Constellation’s stockj price over several days and some investorw feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 percen of its nuclear business for $4.5 billion to Frencjh firm , which had also been in the bidding for the compangy in September. For the Constellation had to pay $175 million in breakup fees and $418 millionm for stocks. It also had to repay a $1 billioj loan from Buffett with 14 percent A decision on whether the deal with EDF requires Marylandr approval is expected in a The deal is expectedc to closethis fall.
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