EDF bids for U.S. nuclear company
French power company EDF said today it's bidding on a stake in Constellation Energy. The $4 billion offer for the U.S. nuclear business is designed to thwart a rival bid from Warren Buffett. Stephen Beard reports.
Logo for French energy company EDF (Shaun Curry/AFP/Getty Images)
More on International, Europe
TEXT OF STORY
Scott Jagow: A power company owned by the French government is making a play for nuclear energy in the U.S. EDF said today it's bidding on a stake in Constellation Energy. From the European Desk in London, Stephen Beard has more.
Stephen Beard: EDF is offering more than $4 billion for half of Constellation's nuclear business. This is designed to thwart a rival bid for the whole company from Warren Buffett. It puts a much higher value on Constellation than Buffett's bid.
EDF is the world's biggest operator of atomic reactors, and has big ambitions. It's exceedingly keen to expand in the U.S. After decades of stagnation, nuclear energy is stirring in America.
But EDF has a problem: It's foreign and government-owned. It could clearly face congressional opposition. EDF's 50 percent bid is an attempt to edge the French company into the U.S. nuclear market.
In London, this is Stephen Beard for Marketplace.
Comments
Comment | Refresh
Post a Comment: Please be civil, brief and relevant.
Email addresses are never displayed, but they are required to confirm your comments. All comments are moderated. Marketplace reserves the right to edit any comments on this site and to read them on the air if they are extra-interesting. Please read the Comment Guidelines before posting.
You must be 13 or over to submit information to American Public Media. The information entered into this form will not be used to send unsolicited email and will not be sold to a third party. For more information see Terms and Conditions and Privacy Policy.