- Warren Buffett and the Crisis: 'Brilliant Moves Interspersed with Some Surprising Errors'
- Warren Buffett to Sell Stakes In Union Pacific & Norfolk Southern
- BNSF CEO: Buffett's Bid for Railroad "Warmly Received" In Washington
- Berkshire Hathaway's NetJets Furloughs 495 Pilots
- Buffett's Berkshire Hathaway May Lose Only Remaining AAA Credit Rating
- Buffett to CNBC: Berkshire Talking to 5 Firms About Buying Tax Credits
- CNBC Transcript: Warren Buffett Explains His Railroad 'All-In Bet' on America
- Warren Buffett to CNBC: Berkshire Businesses Doing 'Just a Tick Better'
- Warren Buffett Tells CNBC Burlington Northern Buy Is 'Bet' On America
- Warren Buffett Sells More Moody's After Stock Rebounds
RSS FEED
MOST SHARED
- Health-Care Reform Does Little To Contain Costs: Analysts
- If Mickey Mouse Has to Change—What Does That Say About You?
- Trader Tax Sound Off
- S&P Stocks Trading at New 52-Week Highs
- Treasurys Flat as 30-Year Auction Takes Focus
- Commodity ETFs: Returns May Not Always Match Expectations
- Hottest Zip Codes for Home Prices
- MBIA Shares Plunge in Wake of Earnings
- CNBC EXCLUSIVE: CNBC MEDIA ALERT: CNBC'S MARIA BARTIROMO SPEAKS WITH STARBUCKS CEO HOWARD SCHULTZ TODAY ON "CLOSING BELL"
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- The Lloyd's Prayer
- Playing Activision and Other Video Game Stocks: Analyst
- Expect 'At Least' Another 10-15% Upside: Fund Manager
- If Mickey Mouse Has to Change—What Does That Say About You?
- S&P Stocks Trading at New 52-Week Highs
- Passive Job Search Strategies
- Back Off, Regulators!
- Housing: 'Shadow Inventory' Dwarfs Loan Modifications
- Home Prices Decline Further In Most Parts of US
- UBS Faces Roadblock in Poaching More BofA Talent
- Jobless Rate to Hit 10.5%, Keeping Fed in Box: Poll
- Credit Card Firms Squeeze Customers as Rules Loom
- 'Thriller' Art: Warhol's Jackson Work Could Net $700,000
- Health Reform Does Little to Contains Costs: Analysts
- Ponzi Proceeds: Bidding on Madoff's Toys
- Quiz: Do You Know Your Coca-Cola Myths?
Warren Buffett Watch
Text Size 
 |
Gail Burton / AP The Constellation Energy building in Baltimore. (2005 file photo) |
MidAmerican Energy Holdings is paying just $26.50 a share. Constellation's stock closed at $58.37 last Friday and finished 2007 at $102.53.
Constellation's stock has plunged in recent days after S&P put its debt rating on watch amid worries about the liquidity needs of its commodities trading business.
Current price: [CEG
Loading...
()
]
In the news release, Buffett is quoted as saying, "MidAmerican has been a wonderful steward of its energy assets and the acquisition of Constellation Energy, when completed, will prove beneficial to all constituents."
UPDATE: MidAmerican Chairman David Sokol was interviewed this morning by CNBC's Becky Quick. The video clip is on the left.
It appears Buffett is indeed taking advantage of the recent financial turmoil to pick up what he would call a good company at a great price. We assume he sees something in Constellation that he didn't see in AIG [AIG
Loading...
()
], since he declined to come to that company's rescue earlier this week after it suffered a similar, but more extreme, battering on Wall Street.
Current Berkshire stock prices:
Class A: [US;BRK.A
Loading...
()
]
Class B: [US;BRK.B
Loading...
()
]
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes