Constellation to Acquire Calpine

Fried Frank acted as counsel to J.P. Morgan Securities as financial advisor to Constellation Energy Corporation (Nasdaq: CEG) ("Constellation") in its $16.4 billion (net purchase: $26.6 billion) definitive agreement to acquire Calpine Corp. ("Calpine"). Calpine is America's largest generator of electricity from natural gas and geothermal resources. Constellation is the nation's largest producer of clean, emissions-free energy and a leading supplier of energy products and services. The agreement creates the nation's largest clean energy provider.

The Fried Frank team was led by partner Roy Tannenbaum.