French Nuclear EDF to buy for $5bn US Constellation, Bid Disrupts Buffett

by SOLARLIFE | December 3, 2008 at 08:19 am

150 views | 5 Recommendations | 0 comments

The desperate french incident nuclear service EDF to bid for US Constellation; PAY TWICE THE PRICE OF BUFFET ?

PARIS — Seeking a strong foothold in the United States, Electricité de France, the giant French utility, offered on Wednesday to pay $4.5 billion for half of Constellation Energy’s nuclear power unit, a deal that could scuttle a takeover by the billionaire investor Warren E. Buffett.

Update Dec-12

A recent Insider comment from EDF France saying:

"Warren Buffet can't compete with us, EDF, because we are not doing this for business !"

What has EDF then in mind, if not for business just spending $ 5bn for Christmas ? Or just having another Big Fish in the nuclear bucket for gaming ?