Constellation Energy Partners with France Rather than Buffett

Earlier this year Warren Buffett appeared to edge out Electricite de France in bidding for the nuclear assets of Constellation Energy, one of the big U.S. players. But today, Dec. 17, Constellationâ''s board decided to sell the assets to EDF after all, the French national utility having sweetened its offer. Buffet still walks away with almost $600 million and a lot of Constellation stock, but Franceâ''s global position in nuclear is measurably strengthened. A few months ago EDF acquired Great Britainâ''s nuclear generating industry, and the countryâ''s reactor manufacturer Areva partnered with Northrop Grumman to manufacture major nuclear power plant components in Newport News, Virginia.

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