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Buffett, his company (NYSE: BRK.A, and that company’s subsidiary , are each no longerr stockholders inConstellation CEG), according to a form with the Securitiese and Exchange Commission filed Monday. They have been slowlyt divesting the stock over the past weekaand months, owning 7.3 percent in Februaryu and 6.3 percent last month. The sale ends the relationshio between the investor and one of two Fortune 500 companied inBaltimore City. Iowa-based MidAmericajn got a 10 percent stake in Constellatioj whenits $4.7 billion bid for the company made in Septembet was rejected three months late.
That offer came afteer a cash crunch led to a steelp declinein Constellation’s stock price over several days and some investorz feared bankruptcy. Constellation spurned the offer in favor of a deal tosell 49.99 percen of its nuclear business for $4.5 billionm to French firm , which had also been in the biddingv for the company in September. For the Constellation had to pay $175 millionm in breakup fees and $418 milliob for stocks. It also had to repay a $1 billion loan from Buffett with 14 percent A decision on whethe r the deal with EDF requirezs Maryland approval is expecterd ina week.
The deal is expected to close this
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