I think that Constellation finally met a business that won't let them off the hook. They don't have the financial resources--short or long-range--to fight with EDF in court. Go EDF. Way to beat Constellation at their own waffly game.

Bahahaha........what is the point of a legal analysis of a dispute with no foundation in legality?? EDF has never agreed that it meant to swallow overpriced carbon producing assets at Mayo's whim. No court would find otherwise. Mayo has not 'exercised' his put because he and his general counsel know that it is not enforceable. EDF knows this too. Mayo started this dispute in an orchestrated fashion to line his pockets, not to run a business. His lap boy CFO Thayer broadcasted the dispute at recent investment conferences to antagonized EDF, not to work with them. No mature businessmen would embark on such an offensive play if the goal was not to dissolve the partnership. Look at the silliness. Mayo pays Buffett $600M to go away, COO Mike Wallace writes DOE a whinning pathetic letter complaining about the $880M cost of loan guarantee. Mayo wants EDF to overpay $1B for assets not related to EDF's core business. Unistar is cast to the wind. Who are the idiots here??
Face it, Mayo ran a simple business into the ground, EDF saved the day. Only mistake made was that the shareholders and the board kept Mayo.

EDF does not need to go to court for anything if Sam does his job on the board. EDF is gunning to remove Mayo. Sam is the hired gun to do the job. Consequential damage will probably remove other board members, the General Counsel, the CFO and various other Mayo pretenders. In the end the professionals at EDF will correct this rather unpleasant situation.

EDF is not a virgin. What if their only purpose was to have a deal before year end, just to give campaign contributions to their shareholder...The EDF guys in charge of the JV 2005-2009 were money laundering guys. Forgot Eagle Energy (young sister of ENRON) and Lehman Brothers in 2008??? Forgot how much EDF paid for the 8.5% on the market in September 2008?

Virgin?

What does virginity have to do with the games that Constellation is pulling. These nuts on Pratt street have made a mockery of doing major infrastructure projects in the U.S. Demonstrated that American businessmen are crooks, cheats and liars. Partnerships with folks in Baltimore is more like a spider web than a joint venture. The best match of players, EDF, Areva, Alstom working with a host utility Constellation and the country's premier engineering and construction company, Bechtel to pull off an incredibly complex project. Only to be cast to the wind by whimpering executives focused on their personal fortunes rather than the future of the corporation. Silliness beyond silliness. And to think the tables can be turned to hint that EDF somehow favors the mess created by Mayo. Mayo is no virgin when it comes to screwing people for money....perhaps Baltimore should consider that when it counts Mayo among its own.

Funny to note that the British came to bombard Ft. McHenry as Baltimore was home to pirates that were upsetting international commerce. Looks like Baltimore is still home to pirates.