Constellation Energy is nearing a roughly $30 billion deal to acquire power producer Calpine, people familiar with the matter said on Wednesday, a move that would significantly expand Constellation's generation assets at a time of rising U.

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 plans to fund the cash portion of the transaction using a mix of available cash and cash flow generated by Calpine from the time of signing until the deal’s closur

Constellation Energy agreed to buy Calpine for $16.4 billion, combining two of the country’s largest electricity generators at a time when their product is in high demand from tech companies.Including the assumption of debt,

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

Constellation Energy Corp. is nearing an acquisition of Calpine Corp., people familiar with the matter said, in what would be one of the biggest ever deals in the power generation sector.

Competitive generation giant Constellation has agreed to acquire Calpine Corp. in a $16.4 billion deal that is set to create the largest producer of clean

In interesting timing, Friday's announcement came on the silver anniversary of the disastrous AOL/Time Warner merger.

Separately, Calpine and Constellation are already among the largest power generation companies in the country.

Baltimore-based Constellation’s plans to acquire a Houston, Texas,-based natural gas  producer in a $26.6 billion deal will create one of the nation’s biggest energy firms at a time