Like a hawk stalking its prey, Warren Buffet swoops in and picks up Constellation Energy at a deep discount. A subsidiary of Warren Buffet’s Berkshire Hathaway will be buying CEG for roughly $4.7 billion in cash.

MidAmerican Energy Holdings is paying just $26.50 a share. Constellation’s stock has traded as high as $107.97 in 2008. If CEG dips to under $22 I will be building a position.

Buffett is quoted as saying, “MidAmerican has been a wonderful steward of its energy assets and the acquisition of Constellation Energy, when completed, will prove beneficial to all constituents.”