BUZZ-Constellation Energy down on report company is nearing $30 bln deal for Calpine

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))