MidAmerican Energy sells 2.67 million shares of Constellation Energy

By Lisa Kerner

Charlotte, N.C., Jan. 22 - Constellation Energy Group, Inc. investors led by Warren E. Buffett's MidAmerican Energy Holding Co. sold 2,674,000 shares of the company's stock between Jan. 6 and Jan. 22, keeping an 8.65% ownership interest.

The shares were priced from $26.55 to $27.55 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

In December, Constellation and MidAmerican mutually terminated their Sept. 19 merger agreement after Électricité de France SA agreed to acquire a 49.99% interest in Constellation Energy Nuclear Group, LLC for $4.5 billion.

MidAmerican sought to buy Constellation, a Baltimore energy products provider, for approximately $4.7 billion, or $26.50 per share, it was previously reported.

As a result of the termination, MidAmerican, a Des Moines energy services provider, will receive a $175 million termination fee plus $17 million of accrued dividends on series A preferred stock and a cash payout of approximately $418 million in lieu of Constellation common stock, a prior SEC filing said.

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