EDF reveals counter-offer for Constellation
Constellation Energy has received an unsolicited $4.5bn bid from Electricite de France (EDF) for 50% of its nuclear business.
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
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