CONSTELLATION ENERGY WILL BUY CALPINE IN BLOCKBUSTER $16.4 BILLION US POWER DEAL

U.S. nuclear power provider Constellation Energy on Friday agreed to buy privately-held natural gas and geothermal company Calpine Corp for $16.4 billion, marking one of the biggest acquisitions in the history of the U.S. power industry.

The cash-and-stock deal comes at a time of rising electricity demand, driven by the proliferation of energy-guzzling AI data centers and the electrification of transportation and buildings, which are expected to hit a record this year. Including debt, the transaction valued Calpine at $26.6 billion.

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