Baltimore-based Constellation, the nation’s largest operator of nuclear power plants, is acquiring Calpine Corp.

Key Takeaways Constellation Energy shares surged Friday after the company agreed to buy private energy company Calpine in a deal valued at $26.6 billion. The move expands Constellation's presence in California and Texas,

Constellation Energy — the electricity provider whose stock has doubled over the last year on hopes it’ll help meet the voracious energy demand from artificial intelligence — reached a $16 billion deal to buy Calpine.

The takeover will be a big deal in the US power industry and will significantly profit Calpine's shareholder who bought the company for $5.5 billion back in 2018 and made it a private company.

Constellation is buying power natural gas and geothermal power provider Calpine in a cash-and-stock deal valued at approximately $16.4 billion, joining together two of the country’s biggest power companies.

(Reuters) - Constellation Energy said on Friday it would buy privately held Calpine Corp, a geothermal and natgas energy company, in a cash-and-stock deal valued at $26.6 billion including debt, sending Constellation's shares up 3.3%.

Separately, Calpine and Constellation are already among the largest power generation companies in the country.

Constellation Energy is one of the best S&P 500 stocks Friday after the utility said it will buy Calpine in a cash-and-stock deal valued at $26 billion.

Constellation Energy is nearing a roughly $30 billion deal to acquire power producer Calpine, people familiar with the matter said on Wednesday, a move that would significantly expand Constellation's generation assets at a time of rising U.