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Power Giant Strikes While the Iron Is Hot
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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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