Warren Buffett buying Constellation Energy

$4.7 billion deal should be definitive tomorrow, closed in 9 months

From staff and wire reports

Published 09/18/08

After watching Constellation Energy's stock tumble 60 percent since Monday, famed investor Warren Buffett stepped in this morning to buy the Baltimore-based utility for $4.7 billion.

The transaction announced shortly after 9 a.m. has Mr. Buffett's MidAmerican Energy Holdings Co. engaging in a cash-and-stock deal to buy Constellation — the parent of Baltimore Gas and Electric Co., which provides gas and electricity to most homes in Anne Arundel County.

Des Moines, Iowa-based MidAmerican will pay $26.50 per share. That is $1.73 per share more than yesterday's closing price, but $31.37 less than its...

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Nuke Power- Shaky Ground! - September 18, 2008

For those of us watching the push for nuclear expansion at Calvert Cliffs (and greater contamination of our air and Chesapeake Bay)? We can not help but wonder how this new ownership deal will impact the decision by Maryland Public Service Commission to allow UniStar permission to build this double-sized, experimental European Pressurized Reactor (EPR) to join the 2 aging reactors already at Calvert Cliffs. Many of us are questioning what impact this new ownership of Constellation Energy will have on nuclear expansion on the Bay? Will it leave Marylanders on perhaps even more shaky ground than ever before? Read more about what nuclear expansion means to Marylanders and the Bay at: www.safeenergymd.com. One extremely concerned environmentalist greatly opposed to the deliberate growing of the "Dead Zones," courtesy of Calvert Cliffs' increased radionuclides and damaging thermal discharges into our beloved Bay, Cathy Garger Howard County

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Cathy Garger - Woodstock, MD - Karma: Bad