Constellation Energy Group Inc., the largest U.S. wholesale power seller whose stock has collapsed amid worries about liquidity and accounting issues, agreed on Thursday to be bought by a unit of Warren Buffett's Berkshire Hathaway Inc. for $4.7 billion.
Des Moines, Iowa-based MidAmerican Energy Holdings Co. will pay $26.50 per share in cash for the Baltimore-based utility, well off its 52-week high of $107.97 reached Jan. 8. The shares had traded as high as $67.87 last week before hitting a low of $13 Tuesday.
The shares rose 23 cents, or 0.9 percent, to $25 in midday trading Thursday.
The companies plan to sign a definitive merger agreement by …
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