US Stock Market Move | Will acquire Calpine Constellation Energy (CEG.US) for $16.4 billion, shares surged nearly 13% in pre-market trading.

On Friday, Constellation Energy (CEG.US) surged nearly 13% in pre-market trading, reaching $275.50 per share. In terms of news, Constellation Energy agreed to acquire the minority stake in Calpine Corp for $16.4 billion in order to increase its power assets across the United States. Both companies announced in a statement on Friday that Constellation will pay for the acquisition in cash and stock. Constellation will also assume Calpine's net debt of approximately $12.7 billion.