Constellation Settles With US on $16.4 Billion Calpine Deal (1)

Constellation Energy Corp. reached a settlement with the US Justice Department, completing the final regulatory hurdle needed to close its $16.4 billion purchase of Calpine Corp. and create America’s biggest fleet of power plants.

Under the settlement, the companies agreed to divest two power plants and a minority stake in one more, according to a statement Friday, in addition to four other sites they agreed to divest in July under a separate agreement. The department’s antitrust division had weighed whether to challenge the deal in recent months, Bloomberg News reported earlier this week.

The settlement comes as power prices soar ...