Buffett Sells Nearly 2.7 Million Constellation Shares


A unit of Warren Buffett's company has sold 2.7 million of the roughly 20 million shares of Constellation Energy Group it received when Constellation rejected a takeover bid last month.

Berkshire Hathaway's Iowa-based utility company, MidAmerican Energy, revealed the stock sales in documents filed with the Securities and Exchange Commission Thursday.

After the sales, which took place between Jan. 6 and Jan. 22, MidAmerican had 17.2 million shares of Constellation stock.

MidAmerican received the stock and $593 million cash after Baltimore-based Constellation rejected MidAmerican's $4.7 billion takeover bid in favor of a deal with Electricite de France.

Berkshire is based in Omaha, Neb.

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