WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
Enter your email address:

Tuesday, June 2, 2009

Berkshire Divests Last of Constellation Energy Stake

June 1 (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. divested the last of its stake in Constellation Energy Group Inc. after declining to enter a bidding war for the firm.

Berkshire’s MidAmerican Energy Holdings Co. holds no stock, compared with a stake of 12.5 million shares, or about 6.3 percent, reported last month, the company said today in a regulatory filing.

Berkshire took the stake as part of a termination package when Constellation broke an agreement to sell itself to Buffett’s firm for $4.7 billion. Constellation instead struck a deal to sell half of its nuclear-power business to Electricite de France SA for $4.5 billion. Berkshire also got about $593 million in cash.
Read entire article :