05:42 PM EDT, 06/05/2025 (MT Newswires) -- Constellation Energy ( CEG ) said Thursday it received approval from the Public Utility Commission of Texas for its acquisition of Calpine.

Constellation said in January that it agreed to acquire Calpine in a cash and stock transaction valued at about $16.4 billion.

The transaction, expected to close in Q4, still requires approvals from the New York State Public Service Commission, the Federal Energy Regulatory Commission, and the Department of Justice.