EDF reveals counter-offer for Constellation

EDF, Constellation's largest shareholder, today offered $4.5bn for a 50% ownership interest in Constellation's nuclear generation and operation business. The proposal also included an upfront $1bn cash investment to be credited against the purchase price of the nuclear business, and the option to sell $2bn of non-nuclear generation assets to EDF.

This values the company at approximately $52 per share, a 96% premium on an offer from MidAmerican Energy Holdings Company that Constellation shareholde