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Stock Market & Financial Investment News

News Breaks
May 30, 2014
15:52 EDTEXC, POMExelon, Pepco Holdings file with FERC for approval of proposed merger
Exelon (EXC) and Pepco Holdings (POM) filed an application for approval by the Federal Energy Regulatory Commission of the proposed transaction announced by the companies on April 30. The combination of the companies brings together Exelon’s three electric and gas utilities – BGE, ComEd and PECO – and Pepco Holdings’ three electric and gas utilities – Atlantic City Electric, Delmarva Power and Pepco – to create the leading Mid-Atlantic electric and gas utility. The transaction does not raise any adverse competition issues, because PHI owns only a minimal amount of electricity generation. It also satisfies the other criteria used by FERC to evaluate whether a transaction is in the public interest, because it will have no adverse impact on customers’ rates and no impact on regulation by FERC or any state utility commission. Because of the lack of competitive generation overlap, the companies have requested that FERC review the transaction and issue an order within 90 days. In addition to their filing with FERC, Exelon and PHI will make other filings in support of their proposed combination. The companies also will make transaction-related filings with the District of Columbia Public Service Commission, the Delaware Public Service Commission, the Maryland Public Service Commission, the New Jersey Board of Public Utilities and the Virginia State Corporation Commission. The transaction is also subject to the notification and reporting requirements under the Hart-Scott-Rodino Act and other customary closing conditions. The transaction requires the approval of the stockholders of PHI. The companies anticipate closing in the second or third quarter of 2015.
News For EXC;POM From The Last 14 Days
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July 27, 2015
07:32 EDTPOMPepco reports Q2 adjusted EPS 23c, consensus 30c
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July 23, 2015
14:33 EDTEXC, POMPepco continues to expect to complete merger with Exelon in Q3
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14:32 EDTEXC, POMPepco says request filed for stay of MPSC order related to merger
In a regulatory filing, Pepco Holdings (POM) disclosed that on July 21, the Maryland Office of People’s Counsel filed a Motion in the Circuit Court for Queen Anne’s County, Maryland, requesting a stay of the MPSC Order and to conduct additional discovery and present additional evidence in light of an alleged conflict of interest on the part of a former MPSC Commissioner. "Pepco Holdings believes the motion is without merit and intends to vigorously oppose it and any other attempts to impede the effectiveness of the MPSC Order or delay the closing of the merger," the company said. As previously disclosed, on April 29, 2014, Pepco Holdings entered into an agreement and plan of merger with Exelon (EXC).
July 16, 2015
12:02 EDTEXCGE says GS Power selects 7HA.02 gas turbine, clutched steam turbine
Korea’s GS Power has selected GE’s (GE) high efficiency 7HA.02 gas turbine, and associated clutched steam turbine, for a new combined-cycle power plant in Anyang, Korea. This marks the 17th order for GE’s HA gas turbine technology, which also celebrates its first commercial shipment to Électricité de France this month, and the first U.S. groundbreaking for two future Exelon (EXC) plants in Texas. With the GS Power project, 17 HA units have been ordered and 61 HA units have been technically selected by customers around the world.

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