daily briefing

daily briefing

October 04, 2008

Buffett group, CEG submit filings

Baltimore's Constellation Energy Group and Warren Buffett's MidAmerican Energy Holdings Co. have submitted regulatory filings with the U.S. Nuclear Regulatory Commission and the Federal Communications Commission related to Constellation's $4.7 billion sale to MidAmerican, the two companies announced yesterday. The deal requires shareholder as well as federal and state regulatory approval. The joint application with the NRC seeks the federal agency's consent to transfer control of licenses to MidAmerican for Constellation's Calvert Cliffs plant; Calvert Cliffs Independent Spent Fuel Storage Installation Facility; Nine Mile Point Nuclear Station; and R.E. Ginna nuclear plant. The companies also seek approval for the transfer of communications licenses. On Thursday, MidAmerican said it was moving forward with the deal after completing a review of Constellation's retail and wholesale business, even as the company's largest shareholder, Electricite de France, said it was considering whether to renew a higher bid for the company.

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