Constellation Energy has said that the decision to begin discussions with EDF was made following consultation with its legal and financial advisers, and in a manner consistent with its fiduciary responsibilities to shareholders, as well as its responsibilities under its definitive merger agreement with the MidAmerican Energy Holdings Company.
Constellation Energy’s board of directors has not withdrawn, modified or qualified its recommendation that shareholders of Constellation Energy vote in favor of the merger with MidAmerican. The special meeting of shareholders to vote on the merger with MidAmerican remains scheduled for December 23, 2008.
Constellation Energy is a supplier of electricity to commercial and industrial customers in the United States. The company also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a fleet of 83 generating units located throughout the United States, totalling approximately 9,000 megawatts of generating capacity, claims the company. It delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.
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