Exelon, Pepco Holdings file for merger approval with utility commissions Exelon Corporation (EXC) and Pepco Holdings (POM) filed applications seeking approval of their proposed merger with the Delaware Public Service Commission, the Public Service Commission of the District of Columbia and the New Jersey Board of Public Utilities. The companies announced their proposed merger on April 30. The companies have already made transaction-related filings with the Federal Energy Regulatory Commission 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 plan to file for merger approval with the Maryland Public Service Commission in August, which still allows for the completion of the merger in the anticipated timeframe of the second or third quarter of 2015.
News For EXC;POM From The Last 14 Days
Check below for free stories on EXC;POM the last two weeks.
Exelon downgraded to Neutral from Buy at ISI Group ISI Group downgraded Execlon to Neutral and cut its price target to $33 from $40. The analyst downgraded shares due to reasonable valuation and lack of visibility into the short-medium term power market.