In a delicious discount deal for Warren Buffett, the famed investor's MidAmerican Energy Holdings Corp. announced Thursday it was buying floundering Constellation Energy Group for $4.7 billion-saving Constellation from looming bankruptcy but also possibly putting the company in play for other bidders who may be attracted by the transaction's fire-sale terms, which value the company at 60 percent less than it was worth only a week ago.rnThe transaction, if consummated, would have major implications for the U.S. electricity sector, putting Buffett's big bucks squarely behind Constellation's industry-leading push to build new reactors and giving MidAmerican the most potent wholesale power marketing operation in the country, instantly making it a key player in deregulated power markets from New England to Illinois to Texas.
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