Constellation Energy (CEG) is working out a settlement with the Justice Department to pave the way for the closure of its $16.4B acquisition of closely held Calpine to create the country’s largest power fleet, sources told Bloomberg. The DOJ’s antitrust division had been weighing whether to challenge the transaction in recent months and representatives of the companies were set to meet with antitrust chief Gail Slater in early November to argue their case against a lawsuit, but the meeting was canceled after the companies made a more robust proposal to resolve concerns about competition in power markets, said the sources.
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