The cost of nuclear power

One nuclear power plant costs $8 billion.

Constellation Energy has four. And Warren Buffet, bidding $26.50, is buying the company for the cost of half of one plant. Anyone wonder why Buffett waived the rights so they can close this deal now? Because the other bidders, are as deliberate as our Fed. They need to act now, or Buffett will steal this.

NEW YORK (Dow Jones)--Constellation Energy Group (CEG) shares rose 12% in premarket trading Thursday after Warren Buffett's MidAmerican Energy Holdings Co. said its merger with the power company was advancing after a review of Constellation's businesses was completed.
Berkshire Hathaway Inc.'s (BRKA) MidAmerican reached a definitive agreement last month to buy Constellation, acquiring the power company for $4.7 billion, or $26.50 a share. The deal came as the Baltimore-based electricity company shares plummeted on fears over the liquidity need for its commodities business.

Mid-American said it completed the review of Constellation's wholesale and retail power businesses ahead of a Friday deadline. The review included the trading records of these businesses.

"We waived the related termination right under the merger agreement," said Gregory E. Abel, president and chief executive of MidAmerican in a statement. "We are pleased to be moving forward with the transaction."

Constellation shares were recently at $26.50 in pre-open electronic trading, up 12% and in line with the offer price.

The announcement by MidAmerican comes as French utility giant Electricite de France SA (1024251.FR) said Thursday it, along with private equity firm Kohlberg Kravis Roberts, continues to study possible options it may have for its minority-owned Constellation affiliate in the U.S. EDF owns 9.5% of Constellation, and wants to use this as a foothold for building and operating nuclear power plants in the U.S.

In addition to commodities-trading business that generates 20% of its profit, Constellation owns a large fleet of power plants in the eastern U.S. and Baltimore Gas & Electric Co. in addition to commodities-trading business.
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