On September 14, Constellation Energy Corp fell 3.07% in pre-market trading, trading at approximately $276.0 per share, with turnover of $5.7586 million. The decline follows the company's announcement of a $715 million deal to acquire RISEC Holdings from Shell's North America energy unit.

RISEC owns the Rhode Island State Energy Center, a 609-megawatt natural gas-fired combined-cycle facility that sells electricity and capacity into the ISO New England wholesale market. Constellation stated the net price is approximately $580 million after expected first-year tax benefits, and the deal will be immediately accretive to operating earnings with returns exceeding its 10% unlevered return threshold. Management also emphasized the acquisition will not affect its authorized $5 billion share repurchase program targeted for completion by the end of next year.

Despite these assurances, the sizable capital outlay is weighing on shares in the near term. The broader electric utilities and nuclear energy sector also showed weakness, with peer Oklo Inc. declining 3.75%. The transaction, pending regulatory approval, is expected to close in the first quarter of next year.

Constellation Energy Corp is the largest producer of carbon-free energy in the United States, with approximately 33,094 megawatts of generating capacity spanning nuclear, wind, solar, natural gas, and hydroelectric assets, serving the equivalent of roughly 16 million homes.

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