Fresh from announcing its £12.5bn takeover of UK nuclear operator British Energy, French energy giant EDF has confirmed it is considering repeating the trick on the other side of the Atlantic by hijacking Warren Buffet's planned takeover of US nuclear firm Constellation Energy.
The French group holds a 9.5 per cent stake in Constellation and has 50:50 joint venture in place to build four new reactors in the US.
Speculation had been mounting over the summer that EDF would launch a full take over bid for the company, but last month Buffet's MidAmerican Energy Holdings Company (MEHC) swooped on the firm agreeing to pay $4.7bn in cash and $1bn in stock for the firm following a run on its shares.
That deal is now facing legal action from some Constellation shareholders who claim the agreed price was too low and EDF has confirmed that a counter-bid remains a possibility.
"EDF remains committed to its position in the US," said a spokeswoman for the company told The Guardian newspaper. "It is reviewing all the options to increase the value of its investments in Constellation for itself and all other shareholders."
The French group is one of the world's largest nuclear energy providers, operating 58 reactors in France, and is keen to export its expertise to new territories as government's in the US, UK and China instigate what British business secretary John Hutton has described as "renaissance in nuclear power" designed to curb carbon emissions and enhance energy security.
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