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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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May 20, 2015
18:01 EDTPOMPepco Holdings subsidiary awarded U.S. Army Corps of Engineers contract
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May 19, 2015
15:36 EDTEXC, POMPepco takeover by Exelon approved by Delaware regulators, Bloomberg reports
Delaware's PSC voted 3-0 in favor of approving he takeover, Bloomberg reported, citing an email statement from a spokesman for the regulator.
08:10 EDTEXCHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Draft Addressing Energy Reliability and Security" with Director Bardee of FERC, President & CEO Fanning of Southern Company, Executive Vice President Dominguez of Exelon Corp., and Vice President Heitman of ABB, Inc. on May 19 at 10 am. Webcast Link
May 18, 2015
08:02 EDTEXC, POMExelon, Pepco accept, pledge to fulfill conditions in merger order from MPSC
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May 15, 2015
14:46 EDTEXC, POMExelon, Pepco say MPSC approval must be 'carefully' reviewed
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13:38 EDTPOM, EXCMaryland PSC conditionally approves Exelon, Pepco merger
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