Constellation Energy has rejected Warren Buffett's MidAmerican Energy, in favour of a deal with EDF, its largest shareholder.
Under the agreement, EDF will acquire a 49.99% stake in Constellation's nuclear generation and operation business for $4.5 billion. It also includes an immediate $1 billion cash injection, the option to sell up to $2 billion of non-nuclear generation assets to EDF in the future and a $600 million interim backstop liquidity facility. The transaction is expected to close in
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