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Business
Late challenge to $4.7B bid for ConstellationPublished 12/03/08
PARIS — France's state-controlled power company challenged a proposed takeover by Warren Buffett of Constellation Energy Wednesday, putting up almost as much money for half its nuclear business as the legendary investor had offered for the entire company.
Constellation shareholders have already filed at least half a dozen lawsuits, saying the $4.7 billion bid from Buffett's MidAmerican Energy Holdings Co. was too low. MidAmerican swept in to acquire the company three months ago as Constellation wrestled with frozen credit markets and tried to stay afloat.
Constellation shares jumped 22 percent, or $5.65, to $30.80 in...
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