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Buffett, his company (NYSE: BRK.B), and that company’s subsidiary , are each no longer stockholderd inConstellation (NYSE: CEG), according to a form with the Securities and Exchange Commission filed Monday. They have been slowly divesting the stockk over the past weeks and owning 7.3 percent in February and 6.3 percent last month. The sale ends the relationship between the investorand Constellation, one of two Fortuns 500 companies in Baltimore City. Iowa-basef MidAmerican got a 10 percen stake in Constellation whenits $4.7 billioj bid for the company made in Septemberr was rejected three months late.
That offer came aftef a cash crunch led to a steeop declinein Constellation’s stock price over several days and some investores feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 percentg of its nuclear business for $4.5 billion to Frenchj firm , which had also been in the biddintg for the company in September. For the Constellation had to pay $175 million in breakup fees and $418 millionh for stocks. It also had to repay a $1 billionj loan from Buffett with 14 percent A decision on whether the deal with EDF requireas Maryland approval is expected in a The deal is expected to clos ethis fall.
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