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International Business Times

Business

Mark Moore

Constellation Buys Rival Calpine For $16.4 Billion, Forming Largest 'Clean Energy' Producer In The US

Constellation Calpine United States Natural Gas Constellation Energy Microsoft

Constellation Energy, the owner of Three Mile Island in Pennsylvania, will refurbish the nuclear reactor to supply Microsoft with electricity to power its AI data centers. Constellation announced it purchased Calpine Corp. in a $16.4 billion deal on Friday. (Credit: Chip Somodevilla/Getty Images)

Nuclear power plant operator Constellation Energy's stock shot up 25% on Friday after it announced it will purchase natural gas and geothermal company Calpine Corp. for $16.4 billion, creating the nation's largest clean energy provider.

The cash and stock deal is made up of 50 million shares of Constellation stock and $4.5 billion in cash. It will also assume about $12.7 billion in Calpine debt for a total purchase price of $26.6 billion, Constellation said Friday.

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USMNT Player Ratings vs. Canada: American Boys See Out Perfect Fall Window

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FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

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One subscription that gives you access to news from hundreds of sites

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