Constellation Energy Corporation Announces Major Acquisition

In a landmark move, Constellation Energy Corporation has entered into a definitive agreement to acquire Calpine Corporation for a net purchase price of $26.6 billion. This acquisition is set to create the leading producer of clean and reliable energy in the United States.

Details of the Acquisition

Constellation, serving approximately two million customers across the country, will purchase Calpine through a combination of cash and shares. The deal includes 50 million shares of Constellation stock and $4.5 billion in cash, valuing the equity at about $16.4 billion. Additionally, Constellation will assume Calpine's net debt of approximately $12.7 billion.

Strategic Benefits of the Merger

"Already the nation’s largest producer of 24/7 emissions-free electricity, Constellation will enhance its portfolio by adding Calpine, the largest US producer of energy from low-emission natural gas generation. This merger also expands Constellation's renewable energy portfolio, including the largest geothermal generation operation in the US," stated Constellation.