More questions than answers continued to swirl around the messy acquisition of Constellation Energy Group as shareholder lawsuits mounted over the board of directors’ choice of suitors. The company’s board chose MidAmerican Energy Holdings’ $4.7 billion ($26.50/share) offer and has spurned EDF International’s (EDFI) $6.2 billion ($35/share) offer.
Messy
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Heap of Negativity Spurs Weekend Price Declines
Former Hurricane Isabel was leaving a messy legacy in the Mid-Atlantic; mostly moderate to cool forecasts dominated the rest of the weather picture; an extra-big storage injection report had its usual day-later impact on the cash market; and of course trading was for the weekend, when industrial load normally slacks off. Small wonder, then, that Thursday’s declines gained downhill momentum and racked up further losses ranging from about a dime to 35 cents Friday.
September 22, 2003
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