Last December, when Constellation Energy ditched its deal to be acquired by Berkshire Hathaway's MidAmerican Energy Holdings, there was a price to be paid.
If Constellation didn't go through with its September deal, it had to pay a break-up fee to MidAmerican, including 10 percent of its common stock. (WBW post: Why Fight When You Can Take the Money And Run?)
The 19,897,322 shares were handed over in mid-December after Constellation agreed to a merger deal with France's ECF.
Since the beginning of the year, Buffett has been steadily selling them right around $27 each.
Current price:
In a filing with the SEC, Constellation says that as of last Friday, Berkshire's holdings had been reduced by over five million shares to 14,831,107 shares. That takes Buffett's stake in Constellation down to 7.45 percent from 9.99 percent, and has raised almost $137 million.
If the past is any guide, the sales won't stop there.
Here's a listing from the Constellation filings this month and last month.
