Constellation Energy Corporation CEG and Calpine Corp. announced that they have entered into a definitive agreement under which CEG will acquire Calpine in a cash and stock transaction valued at an equity purchase price of nearly $16.

Constellation Energy shares could remain in focus on Monday after surging more than 25% Friday as the energy giant announced that it will acquire rival Calpine in a deal valued at $26.6 billion. Monitor these key chart levels.

Few people saw it coming then, but 2024 would be the year the proverbial planets aligned for this utility name.

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

Combined, they will have a capacity of 60 gigawatts from nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration and battery storage.

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 produces electricity at power plants mainly in Maryland, Illinois, New York and Pennsylvania. Houston-based Calpine said it is the largest U.S. producer of energy from “low ...

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