Warren Buffett, the famous bargain-hunting billionaire, is in deal mode again.
MidAmerican Energy, a division of Mr. Buffett’s Berkshire Hathaway, has snapped up Constellation Energy for $4.7 billion. It could end up being a bargain-basement price, considering that Constellation is the nation’s largest wholesale power provider and reported $21 billion in revenues last year.
Constellation also traded energy contracts and appeared to be in desperate need of cash to back up some trades that went bad. Sound familiar? Unlike many of the investment banks, though, Constellation has large amounts of rock-solid assets.
Read the complete article
MidAmerican Energy, a division of Mr. Buffett’s Berkshire Hathaway, has snapped up Constellation Energy for $4.7 billion. It could end up being a bargain-basement price, considering that Constellation is the nation’s largest wholesale power provider and reported $21 billion in revenues last year.
Constellation also traded energy contracts and appeared to be in desperate need of cash to back up some trades that went bad. Sound familiar? Unlike many of the investment banks, though, Constellation has large amounts of rock-solid assets.
Read the complete article
