BUZZ-Constellation Energy down on report company is nearing $30 bln deal for Calpine
ReutersJan 8, 2025 7:24 PM
Updates
** Shares of utility Constellation Energy CEG.O pare session's losses; last down 4.2% at $244.93
** Reuters reports the utility is nearing a deal to acquire independent power producer Calpine Corp, citing people familiar with the matter
** Deal could value Calpine at about $30 billion including debt, the report adds
** While a deal is not guaranteed, if successful, it could be the biggest in the U.S. power industry since 2007
** Bloomberg News reported on CEG's talks with Calpine earlier on Wednesday
** CEG stock more than doubled in 2024
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com))
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