Constellation buying Calpine in $26.6 billion deal that would join two huge US power companies

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

Constellation is buying natural gas and geothermal power provider Calpine for $16.4 billion, joining together two of the country’s biggest power companies.

The acquisition would create the nation’s leading retail electric supplier, serving 2.5 million customers, the companies said Friday. It’s geographic footprint will span the continental U.S. and include a significantly expanded presence in Texas, the fastest growing market for power demand, as well as other key strategic states, including California, Delaware, New York, Pennsylvania and Virginia. The buyout will also create the

Constellation will buy Calpine with 50 million of its shares and $4.5 billion in cash. It will also assume about $12.7 billion in Ca