Nebraska multigajillionaire Warren Buffett gave $1 billion-with-a-“b” dollars in cash to Maryland’s beleaguered Constellation Energy as part of a takeover bid. The money was transferred over the weekend.

Constellation, its shares plummeting, reached an agreement with MidAmerican Energy, which is owned by Buffett’s Berkshire Hathaway, to be purchased for $4.75 billion.

However, Constellation’s business partner, French state-owned Électricité de France (or EDF), which owns 10% of Constellation, may make a higher offer to block the purchase. They claim to be able to make a better offer than the one from Buffett.

EDF wants to protect a deal with Constellation to build several nuclear reactors in the United States.

Constellation Energy, headquartered in Baltimore, Maryland, generates, trades, supplies, and distributes energy. The company operates over 35 power plants in 11 states.

A noted philanthropist, Buffett is worth an estimated $62 billion, and Forbes has declared him the wealthiest person on Earth. He owns Berkshire Hathaway; he is not the guy who dated Anne Hathaway.

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