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Archive for September, 2008

In the midst of the financial crisis, Warren Buffett has moved in to buy over a company – at a bargain price.

Constellation Energy, a company which is the nations largest competitive supplier of electricity to large commercial and industrial customers and the nations largest wholesale power seller, was bought over by MidAmerican Energy Holdings Company, a subsidairy of Berkshire Hathaway.

The purchase was paid for in cash for abuot $4.7 billion, or $26.50 per share. For the record, Constellation’s stock closed at $58.37 last Friday and finished 2007 at $102.53.

…Continue reading » Warren Buffett Buys Over Constellation Energy