China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
EDF mulling new bid for Constellation: report
NEW YORK (Reuters) - Electricite de France SA (EDF.PA) is considering a number of ways to snag Constellation Energy Group Inc (CEG.N) away from Warren Buffett's MidAmerican Energy Holdings Co (MDPWN.OB), the Wall Street Journal reported Tuesday, citing people familiar with the matter.
In October, EDF, the world's largest producer of nuclear energy, dropped a bid for Constellation, saying the credit crisis had made financing more difficult to obtain. EDF already owns 9.5 percent of Baltimore-based Constellation.
MidAmerican Energy, a subsidiary of Warren Buffett's Berkshire Hathaway Inc (BRKa.N)(BRKb.N), agreed to buy Constellation in September for $4.7 billion. Constellation shareholders are set to vote on the deal on Dec 23.
"We are focused on completing our merger with MidAmerican Energy Holdings and beyond that, we cannot comment on market rumor and speculation," said Constellation spokesman Robert Gould.
One of EDF's options would be to provide Constellation with a cash injection and buy some of its assets, the Journal reported. One source said no final decision has been made on whether to proceed, and that the company may choose not to do anything.
EDF is not working with buyout firms on any potential bid, the Journal reported, citing people familiar with the matter.
It is not known whether EDF is in talks with other energy firms to build a joint offer, or whether it is considering a full takeover of Constellation.
(Reporting by Phil Wahba; editing by Jeffrey Benkoe)
