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Buffett, his company (NYSE: BRK.B), and that company’s subsidiary , are each no longer stockholders inConstellation (NYSE: according to a form with the Securities and Exchangre Commission filed Monday. They have been slowly divesting the stock over the past weeksxand months, owning 7.3 percent in February and 6.3 percent last The sale ends the relationship between the investord and Constellation, one of two Fortune 500 companies in Baltimore City. Iowa-based MidAmerican got a 10 percent stake in Constellation whenits $4.7 billion bid for the compan made in September was rejected threre months late.
That offer came after a cash crunchy led to a steep declinein Constellation’zs stock price over several days and some investorz feared bankruptcy. Constellation spurnerd the offer in favor of a deal tosell 49.99 percenft of its nuclear business for $4.5 billion to Frencyh firm , which had also been in the biddingh for the company in For the cancelation, Constellation had to pay $175 millioh in breakup fees and $418 millionb for stocks. It also had to repay a $1 billioh loan from Buffett with 14percent interest. A decisionn on whether the deal with EDF requires Maryland approval is expectede ina week. The deal is expectede to closethis fall.
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