Constellation to Buy Calpine in Landmark Power Acquisition

In this aerial view, the shuttered Three Mile Island nuclear power plant stands in the middle of the Susquehanna River near Middletown, Pennsylvania on Oct. 10, 2024. Chip Somodevilla/Getty Images

Constellation Energy, a nuclear energy company, has acquired the gas and geothermal Calpine Corporation in cash and stock for $16.4 billion.

At the expected closing date of what is being called one of the largest power industry acquisitions, Constellation said the net purchase price will be $26.6 billion on Friday.