Constellation Energy agreed to buy Minority-owned Alpine Corp. for $16.4 billion to add dozens of power generation assets across the US. Constellation will be paid in cash and shares, the companies said in a statement on Friday. Constellation will also assume Calpine's net debt of approximately $12.7 billion. Before the US market on Friday, Constellation rose more than 13%. The acquisition will be one of the largest acquisitions for US power generation companies, and will bring considerable returns to Calpine shareholders Energy Capital Partners, Canada Pension Plan Investments, and Access Industries. They privatized the company at a price of 5.5 billion US dollars in 2018.

Constellation Energy agreed to buy Minority-owned Alpine Corp. for $16.4 billion to add dozens of power generation assets across the US. Constellation will be paid in cash and shares, the companies said in a statement on Friday. Constellation will also assume Calpine's net debt of approximately $12.7 billion. Before the US market on Friday, Constellation rose more than 13%. The acquisition will be one of the largest acquisitions for US power generation companies, and will bring considerable returns to Calpine shareholders Energy Capital Partners, Canada Pension Plan Investments, and Access Industries. They privatized the company at a price of 5.5 billion US dollars in 2018.