Power Giant Strikes While the Iron Is Hot

Power Giant Strikes While the Iron Is Hot·The Wall Street Journal

Constellation Energy, the owner of America’s biggest nuclear power fleet, is buying the owner of the largest natural-gas-fired power fleet. The deal is a win-win for both parties and highlights just how much fortunes have shifted for once-ignored power stocks. Constellation on Friday announced that it will buy privately held Calpine for $29.1 billion, including $12.7 billion of net debt.

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