Even a guy like Warren Buffett does not get what he wants all the time. This is the update on the story on EDF and Buffett duel on Constellation Energy.
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Dec. 16 (Bloomberg) -- Electricite de France SA is close to an agreement to buy half the nuclear power business of Constellation Energy Group Inc. for $4.5 billion, trumping a takeover bid by Warren Buffett’s MidAmerican Energy Co., people familiar with the situation said.
Approval by Constellation’s board is contingent on waivers of bank covenants and may be announced as early as this week, said one of the people, who declined to be identified because the talks are private. Francois Molho, a spokesman for Paris-based EDF, declined to comment today and Constellation spokesman Larry McDonnell couldn’t be reached yesterday.
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Dec. 16 (Bloomberg) -- Electricite de France SA is close to an agreement to buy half the nuclear power business of Constellation Energy Group Inc. for $4.5 billion, trumping a takeover bid by Warren Buffett’s MidAmerican Energy Co., people familiar with the situation said.
Approval by Constellation’s board is contingent on waivers of bank covenants and may be announced as early as this week, said one of the people, who declined to be identified because the talks are private. Francois Molho, a spokesman for Paris-based EDF, declined to comment today and Constellation spokesman Larry McDonnell couldn’t be reached yesterday.
Click to read the complete story
