Buffett answers the phone call from Constellation Energy
(Bloomberg) Warren Buffett's MidAmerican Energy Holdings Co. agreed to buy Constellation Energy Group Inc. for about $4.7 billion, snapping up the largest U.S. power marketer at less than half its market value prior to this week.
The cash deal is worth $26.50 a share, the companies said today in a statement. That's 7 percent higher than yesterday's close. The stock plunged 58 percent this week on concern turmoil in financial markets would wreck Constellation's energy-trading business.
Read the entire story
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment